GBP/USD Open 1.6323 High 1.6482 Low 1.6265 Close 1.6315
On Monday Pound/Dollar decreased significantly with 185 pips, in converse with the positive Interbank sentiment at over +21%. The Cable depreciated from 1.6482 to 1.6295 yesterday, closing the day at 1.6315. Today the British Pound descended further, dropping down to 1.6265. On the 1 hour chart range trading has formed, while on the 3 hour chart trading is within wider range. First resistance is yesterday's peak at 1.6482. Break above it should extend the bullish movement further towards 1.6600. The nearest support level is today's bottom at 1.6265. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6148. Today are UK Trade in goods, Non-EU trade, Industrial production, and Manufacturing output, all at 8:30 GMT. Quotes are moving above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term bullish and medium term bearish pressure. The value of the RSI indicator is neutral and hesitant, MACD is negative and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.6482 1.6600 1.6733
Technical support levels: 1.6265 1.6148 1.6010
Trading range: 1.6330 - 1.6400
Buy at 1.6340 SL 1.6310 TP 1.6390
Already made +17 pips profit on GBP/USD today from the following signal:
5:31 GMT+1 Sell GBP/USD at 1.6334 SL 1.6360 TP 1.6274, exit sent at 5:43 GMT+1.
Today so far +97, yesterday +193, as shown in details at http://www.zifx.com/performance.php.