GBP/USD Open 1.5720 High 1.5842 Low 1.5683 Close 1.5786
On Friday Pound/Dollar increased with 100 pips, in converse with the negative Interbank sentiment at under -45%. The Cable appreciated from 1.5743 to 1.5842 on Friday, closing the week at 1.5798. Today the British Pound declined strongly, descending down to 1.5683, than recovered. On the 1 hour chart the downward channel has resumed, while on the 3 hour chart the new downward channel is intact. First resistance is Friday's peak at 1.5842. Break above it should extend the bullish movement further towards 1.5963. The nearest support level is today's bottom at 1.5683. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5560. There are no major economic events for UK today. 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 hesitant, while CCI is in line with the 100 line on the 1 hour chart, giving neutral signals.
Technical resistance levels: 1.5842 1.5963 1.6100
Technical support levels: 1.5683 1.5560 1.5427
Trading range: 1.5720 - 1.5795
Buy at 1.5734 SL 1.5704 TP 1.5784
Already made +13 pips profit on GBP/USD today from the following sent to clients only signal:
5:23 GMT+1 Sell GBP/USD at 1.5697 SL 1.5723 TP 1.5637, exit sent at 5:30 GMT+1.
Today so far +67, on Friday +95, as shown in details at http://www.zifx.com/performance.php.