GBP/USD Open 1.5601 High 1.5665 Low 1.5560 Close 1.5598
On Tuesday Pound/Dollar decreased with 100 pips. The Cable depreciated from 1.5665 to 1.5560 yesterday, in converse with the positive Interbank sentiment at nearly +2%, closing the day at 1.5598. Today the British Pound is making recovery attempts, with movements still within yesterday's range for the time being. On the 1 hour chart range trading is emerging, while on the 3 hour chart quotes are keeping within the wide trading range. First resistance is yesterday's peak at 1.5665. Break above it should extend the bullish movement further towards 1.5800. The nearest support level is yesterday's bottom at 1.5560. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5434. Today are UK Industrial production and Manufacturing output, both at 10 GMT. Quotes are moving above the 20 and just bellow the 50 EMA on the 1 hour chart, indicating short term bullish and medium term slim bearish pressure. The value of the RSI indicator is positive and consolidating, MACD is neutral and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.5665 1.5800 1.5933
Technical support levels: 1.5560 1.5434 1.5300
Trading range: 1.5605 - 1.5680
Buy at 1.5619 SL 1.5589 TP 1.5669
Already made +27 pips profit on GBP/USD today from the following sent to clients only signal:
7:46 GMT Buy GBP/USD at 1.5609 SL 1.5583 TP 1.5669, exit sent at 8:17 GMT+1.
Today so far +71, yesterday +129, as shown in details at http://www.zifx.com/performance.php.