GBP/USD Open 1.5641 High 1.5692 Low 1.5562 Close 1.5631
On Tuesday Pound/Dollar continued decreasing, with 110 pips. The Cable depreciated from 1.5692 to 1.5581 yesterday, in converse with the negative Interbank sentiment at nearly -8%, closing the day at 1.5631. Today the British Pound weakened further, dropping down to 1.5562. On the 1 hour chart the downward channel looks good, while on the 3 hour chart range trading is forming. First resistance is yesterday's peak at 1.5692. Break above it should extend the bullish movement further towards 1.5818. The nearest support level is yesterday's bottom at 1.5581. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5460. Today are UK BoE meeting minutes at 9:30 GMT. Quotes are moving bellow the close 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and tranquil too, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.5692 1.5818 1.5950
Technical support levels: 1.5562 1.5460 1.5328
Trading range: 1.5585 - 1.5515
Sell at 1.5575 SL 1.5605 TP 1.5525
Already made +38 pips profit on GBP/USD today from the following sent to clients only signal:
7:52 GMT Sell GBP/USD at 1.5601 SL 1.5627 TP 1.5541, exit sent at 8:30 GMT+1.
Today so far +110, yesterday +25, as shown in details at http://www.zifx.com/performance.php.