GBP/USD Open 1.6031 High 1.6081 Low 1.5945 Close 1.6028
On Friday Pound/Dollar traded within 120 pip range. The Cable appreciated from 1.5945 to 1.6064 on Friday, in line with the positive Interbank sentiment at almost +26%, closing the week at 1.6028. Today the British Pound jumped slightly up, reaching 1.6081, after which commenced descending. On the 1 hour chart the upward channel is on hold, while on the 3 hour chart wide range trading is forming. First resistance is today's peak at 1.6081. Break above it should extend the bullish movement further towards 1.6200. The nearest support level is Friday's bottom at 1.5945. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5820. There are no major economic events for UK today. Quotes are moving just bellow the close 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and declining, MACD is neutral and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.6081 1.6200 1.6332
Technical support levels: 1.5945 1.5820 1.5688
Trading range: 1.6025 - 1.5950
Sell at 1.6011 SL 1.6041 TP 1.5961
Already made +4 pips profit on GBP/USD today from the following sent to clients only signal:
5:25 GMT Buy GBP/USD at 1.6021 SL 1.5995 TP 1.6081, exit sent at 5:27 GMT+1.
Today so far +124, on Friday +131, as shown in details at http://www.zifx.com/performance.php.