GBP/USD Open 1.5702 High 1.5824 Low 1.5690 Close 1.5724
On Wednesday Pound/Dollar continued decreasing with 130 pips. The Cable depreciated from 1.5824 to 1.5694 yesterday, in converse with the positive Interbank sentiment at nearly +16%, closing the day at 1.5724. Today the British Pound descended slightly further, reaching 1.5690. On the 1 hour chart new downward channel is emerging, while on the 3 hour chart range trading is forming. First resistance is yesterday's peak at 1.5824. Break above it should extend the bullish movement further towards 1.5950. The nearest support level is today's bottom at 1.5690. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5566. Today are UK Nationwide consumer confidence and Retail sales, at 00:01 and 09:30 GMT respectively. Quotes are moving just bellow the 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 negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.5824 1.5950 1.6083
Technical support levels: 1.5690 1.5566 1.5430
Trading range: 1.5755 - 1.5685
Sell at 1.5745 SL 1.5775 TP 1.5695
Already made +46 pips profit on GBP/USD today from the following sent to clients only signal:
5:46 GMT Sell GBP/USD at 1.5767 SL 1.5793 TP 1.5707, exit sent at 8:33 GMT+1.
Today so far +143, yesterday +125, as shown in details at http://www.zifx.com/performance.php.