GBP/USD Open 1.5511 High 1.5594 Low 1.5466 Close 1.5512
On Monday Pound/Dollar traded within 80 pip range. The Cable depreciated from 1.5548 to 1.5466 yesterday, in line with the negative Interbank sentiment at almost -11%, closing the day at 1.5512. Today the British Pound commenced recovering, climbing up to 1.5566. On the 1 hour chart quotes got back in the trading range, while on the 3 hour chart the downward channel has slowed down. First resistance is today's peak at 1.5594. Break above it should extend the bullish movement further towards 1.5720. The nearest support level is yesterday's bottom at 1.5466. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5340. Today is UK CIPS manufacturing index at 9:30 GMT. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and tranquil too, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.5594 1.5720 1.5852
Technical support levels: 1.5466 1.5340 1.5200
Trading range: 1.5550 - 1.5620
Buy at 1.5560 SL 1.5530 TP 1.5610
Already made +19 pips profit on GBP/USD today from the following sent to clients only signal:
6:42 GMT Buy GBP/USD at 1.5575 SL 1.5543 TP 1.5635, exit sent at 7:47 GMT+1.
Today so far +59, on Friday +106, as shown in details at http://www.zifx.com/performance.php.