GBP/USD Open 1.6024 High 1.6067 Low 1.5936 Close 1.6003
On Thursday Pound/Dollar continued decreasing with 130 pips, in line with the negative Interbank sentiment at under -6%. The Cable depreciated from 1.6067 to 1.5936 yesterday, closing the day at 1.6003. After initial steadyness, today the British Pound resumed weakening, but movements are within yesterday's range for now. On the 1 hour chart the downward channel looks good, while on the 3 hour chart new downward channel has emerged. First resistance is yesterday's peak at 1.6067. Break above it should extend the bullish movement further towards 1.6200. The nearest support level is yesterday's bottom at 1.5935. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5800. 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 slim bearish pressure. The value of the RSI indicator is neutral and calm, MACD is negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall neutral to light short signals.
Technical resistance levels: 1.6067 1.6200 1.6336
Technical support levels: 1.5935 1.5800 1.5658
Trading range: 1.5990 - 1.5915
Sell at 1.5978 SL 1.6008 TP 1.5928
Already made +60 pips profit on GBP/USD today from the following signal:
5:29 GMT+1 Sell GBP/USD at 1.6020 SL 1.6046 TP 1.5960, TP reached at 8:31 GMT+1.
Today so far +130, yesterday +120, as shown in details at http://www.zifx.com/performance.php.