GBP/USD Open 1.5852 High 1.5997 Low 1.5791 Close 1.5880
On Friday Pound/Dollar decreased with 150 pips, in line with the negative Interbank sentiment at bellow -26%. The Cable depreciated from 1.5997 to 1.5841 on Friday, closing the week at 1.5880. Today the British Pound went even further down, descending down to 1.5791. On the 1 hour chart the downward channel looks good, while on the 3 hour chart new downward channel has also emerged. First resistance is Friday's peak at 1.5997. Break above it should extend the bullish movement further towards 1.6210. The nearest support level is today's bottom at 1.5791. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5668. There are no major economic events for UK today. Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and inclining upwards, MACD is negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.6084 1.6210 1.6347
Technical support levels: 1.5791 1.5668 1.5532
Trading range: 1.5850 - 1.5775
Sell at 1.5839 SL 1.5869 TP 1.5789
Already made +52 pips profit on GBP/USD today from the following sent to clients only signal:
5:25 GMT+1 Sell GBP/USD at 1.5843 SL 1.5869 TP 1.5783, exit sent at 7:27 GMT+1.
Today so far +199, on Friday +137, as shown in details at http://www.zifx.com/performance.php.