GBP/USD Open 1.5429 High 1.5538 Low 1.5270 Close 1.5441
On Thursday Pound/Dollar decreased significantly with 230 pips, in line with the negative Interbank sentiment at almost -45%. The Cable depreciated from 1.5503 to 1.5270 yesterday, closing the day at 1.5441. Today the British Pound recovered yesterday's losses, climbing even further to 1.5538. On the 1 hour chart the downward channel has widened, while on the 3 hour chart the downward channel has renewed. First resistance is today's peak at 1.5538. Break above it should extend the bullish movement further towards 1.5664. The nearest support level is yesterday's bottom at 1.5270. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5138. Today are UK PPI Output and Input, both at 8:30 GMT. Quotes are above the almost even 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and rising, MACD is positive and inclining upwards too, while CCI has crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 1.5538 1.5664 1.5800
Technical support levels: 1.5270 1.5138 1.5000
Trading range: 1.5505 - 1.5580
Buy at 1.5516 SL 1.5486 TP 1.5566
Already made +60 pips profit on GBP/USD today from the following sent to clients only signal:
7:00 GMT+1 Buy GBP/USD at 1.5432 SL 1.5406 TP 1.5492, TP reached at 7:49 GMT+1.
Today so far +134, yesterday +108, as shown in details at http://www.zifx.com/performance.php.