GBP/USD Open 1.5332 High 1.5488 Low 1.5278 Close 1.5327
On Wednesday Pound/Dollar renewed decreasing with 180 pips. The Cable depreciated from 1.5488 to 1.5307 yesterday, in converse with the positive Interbank sentiment at almost +1%, closing the day at 1.5327. Today the British Pound weakened further, dropping down to 1.5278. On the 1 hour chart quotes broke down of the trading range, while on the 3 hour chart trading is going down and out of the wider range too. First resistance is yesterday's peak at 1.5488. Break above it should extend the bullish movement further towards 1.5610. The nearest support level is today's bottom at 1.5278. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5155. Today are UK Industrial production, Manufacturing output and BoE meeting announcement, at 9:30 and 12 GMT respectively. Quotes are moving bellow the 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 short signals.
Technical resistance levels: 1.5488 1.5610 1.5743
Technical support levels: 1.5278 1.5155 1.5020
Trading range: 1.5315 - 1.5240
Sell at 1.5303 SL 1.5333 TP 1.5253
Already made +41 pips profit on GBP/USD today from the following sent to clients only signal:
5:20 GMT Sell GBP/USD at 1.5321 SL 1.5347 TP 1.5261, exit sent at 8:01 GMT+1.
Today so far +98, yesterday +127, as shown in details at http://www.zifx.com/performance.php.