GBP/USD Open 1.6412 High 1.6483 Low 1.6227 Close 1.6376
On Friday Pound/Dollar increased significantly with 170 pips, in line with the morning positive Interbank sentiment at nearly +4%. The Cable appreciated from 1.6227 to 1.6398 on Friday, closing the week at 1.6376. Today the British Pound rose further, climbing up to 1.6483. On the 1 hour chart range trading is emerging, while on the 3 hour chart trading is within wider range. First resistance is today's peak at 1.6483. Break above it should extend the bullish movement further towards 1.6600. The nearest support level is Friday's bottom at 1.6227. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6100. There are no major economic events for UK today. Quotes are moving above the crossed 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 1.6483 1.6600 1.6733
Technical support levels: 1.6227 1.6100 1.5964
Trading range: 1.6420 - 1.6490
Buy at 1.6430 SL 1.6400 TP 1.6480
Already made +60 pips profit on GBP/USD today from the following signal:
5:29 GMT+1 Buy GBP/USD at 1.6399 SL 1.6373 TP 1.6459, TP reached at 8:06 GMT+1.
Today so far +193, on Friday +133, as shown in details at http://www.zifx.com/performance.php.