GBP/USD Open 1.5339 High 1.5409 Low 1.5278 Close 1.5328
On Thursday Pound/Dollar traded within 90 pip range. The Cable appreciated from 1.5278 to 1.5368 yesterday, in converse with the negative Interbank sentiment at almost -28%, closing the day at 1.5328. Today the British Pound strengthened further, climbing up to 1.5409. On the 1 hour chart quotes are testing the upper limit of the downward channel, while on the 3 hour chart new small angle downward channel is emerging. First resistance is today's peak at 1.5409. Break above it should extend the bullish movement further towards 1.5530. The nearest support level is yesterday's bottom at 1.5278. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5155. Today are UK PPI Output and Input, both at 9:30 GMT. Quotes are moving just above the close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and declining, 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: 1.5409 1.5530 1.5654
Technical support levels: 1.5278 1.5155 1.5020
Trading range: 1.5350 - 1.5425
Buy at 1.5363 SL 1.5333 TP 1.5413
Already made +41 pips profit on GBP/USD today from the following sent to clients only signal:
6:11 GMT Buy GBP/USD at 1.5368 SL 1.5342 TP 1.5428, exit sent at 7:44 GMT+1.
Today so far +134, yesterday +98, as shown in details at http://www.zifx.com/performance.php.