GBP/USD Open 1.5535 High 1.5646 Low 1.5421 Close 1.5553
On Friday Pound/Dollar increased significantly with 220 pips, in converse with the negative Interbank sentiment at under -24%. The Cable appreciated from 1.5421 to 1.5646 on Friday, closing the week at 1.5553. Today the British Pound resumed recovery attempts, but movements are still caught within Friday's range for the time being. On the 1 hour chart range trading has emerged, while on the 3 hour chart the downward channel is on hold. First resistance is Friday's peak at 1.5646. Break above it should extend the bullish movement further towards 1.5770. The nearest support level is Friday's bottom at 1.5421. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5300. There are no major economic events for UK today. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is thinly negative and calm, MACD is positive and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving over neutral signals.
Technical resistance levels: 1.5646 1.5770 1.5900
Technical support levels: 1.5421 1.5300 1.5166
Trading range: 1.5570 - 1.5645
Buy at 1.5583 SL 1.5553 TP 1.5633
Already made +14 pips profit on GBP/USD today from the following sent to clients only signal:
5:26 GMT+1 Buy GBP/USD at 1.5611 SL 1.5585 TP 1.5671, exit sent at 7:34 GMT+1.
Today so far +87, on Friday +134, as shown in details at http://www.zifx.com/performance.php.