GBP/USD Open 1.5801 High 1.5932 Low 1.5752 Close 1.5821
On Tuesday Pound/Dollar continued decreasing with 135 pips. The Cable depreciated from 1.5932 to 1.5797 yesterday, in converse with the positive Interbank sentiment at above +18%, closing the day at 1.5821. Today the British Pound descended further, reaching 1.5752. On the 1 hour chart the range trading was broken downwards, while on the 3 hour chart the upward channel range trading is emerging. First resistance is yesterday's peak at 1.5932. Break above it should extend the bullish movement further towards 1.6050. The nearest support level is today's bottom at 1.5752. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5730. Today are UK Claimant count, Average earnings, ILO Jobless rate, and BoE quarterly inflation report, at 9:30 and 10:30 GMT respectively. Quotes are moving in line with the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bearish pressure. The value of the RSI indicator is negative and inclining upwards, MACD is negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.5932 1.6050 1.6183
Technical support levels: 1.5752 1.5730 1.5600
Trading range: 1.5770 - 1.5845
Buy at 1.5784 SL 1.5754 TP 1.5834
Already made +19 pips profit on GBP/USD today from the following sent to clients only signal:
8:16 GMT Sell GBP/USD at 1.5799 SL 1.5825 TP 1.5739, exit sent at 8:31 GMT+1.
Today so far +90, yesterday +177, as shown in details at http://www.zifx.com/performance.php.