GBP/USD Open 1.6057 High 1.6160 Low 1.6003 Close 1.6055
On Monday Pound/Dollar commenced decreasing with over 150 pips, in line with the negative Interbank sentiment at bellow -3%. The Cable depreciated from 1.6160 to 1.6003 yesterday, closing the day at 1.6055. Today the British Pound corrected upwards, but movements are within yesterday's range for the time being. On the 1 hour chart range trading has formed, while on the 3 hour chart the downward channel is on hold. First resistance is yesterday's peak at 1.6160. Break above it should extend the bullish movement further towards 1.6288. The nearest support level is yesterday's bottom at 1.6003. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5980. There are no major economic events for UK today. Quotes have just moved above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is neutral and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.6160 1.6288 1.6420
Technical support levels: 1.6003 1.5980 1.5849
Trading range: 1.6090 - 1.6170
Buy at 1.6107 SL 1.6077 TP 1.6157
Already made +22 pips profit on GBP/USD today from the following signal:
5:29 GMT+1 Sell GBP/USD at 1.6076 SL 1.6102 TP 1.6016, exit sent at 6:21 GMT+1.
Today so far +130, yesterday +100, as shown in details at http://www.zifx.com/performance.php.