GBP/USD Open 1.5901 High 1.6056 Low 1.5874 Close 1.5949
On Wednesday Pound/Dollar decreased with 175 pips, in converse with the positive Interbank sentiment at almost +14%. The Cable depreciated from 1.6056 to 1.5880 yesterday, closing the day at 1.5949. Today the British Pound weakened further, dropping down to 1.5874. On the 1 hour chart the upward channel is on hold, while on the 3 hour chart the upward channel has slowed down. First resistance is yesterday's peak at 1.6056. Break above it should extend the bullish movement further towards 1.6180. The nearest support level is today's bottom at 1.5874. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5750. Today are UK Halifax house price index and CIPS services index. Quotes are moving just above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term bullish and medium term bearish pressure. The value of the RSI indicator is negative and inclining upwards, MACD is negative and tranquil, while CCI is about to cross up the 100 line on the 1 hour chart, giving over all neutral to light long signals.
Technical resistance levels: 1.6056 1.6180 1.6312
Technical support levels: 1.5874 1.5750 1.5621
Trading range: 1.5920 - 1.5995
Buy at 1.5932 SL 1.5902 TP 1.5982
Already made +46 pips profit on GBP/USD today from the following sent to clients only signal:
5:25 GMT Buy GBP/USD at 1.5898 SL 1.5872 TP 1.5958, exit sent at 8:39 GMT+1.
Today so far +109, yesterday +95, as shown in details at http://www.zifx.com/performance.php.