GBP/USD Open 1.5607 High 1.5670 Low 1.5571 Close 1.5615
On Wednesday Pound/Dollar decreased with 100 pips. The Cable depreciated from 1.5670 to 1.5571 yesterday, in converse with the positive Interbank sentiment at over +28%, closing the day at 1.5615. Today the British Pound is showing weakness again, but movements are limited within yesterday's range for the time being. On the 1 hour chart quotes are back in the trading range, while on the 3 hour chart the downward channel is on hold. First resistance is yesterday's peak at 1.5670. Break above it should extend the bullish movement further towards 1.5800. The nearest support level is yesterday's bottom at 1.5571. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5438. Today is UK CIPS services index at 9:30 GMT. Quotes are moving just bellow the crossed and close 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm, MACD is neutral and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.5670 1.5800 1.5936
Technical support levels: 1.5571 1.5438 1.5300
Trading range: 1.5625 - 1.5545
Sell at 1.5605 SL 1.5635 TP 1.5555
Already made +39 pips profit on GBP/USD today from the following sent to clients only signal:
8:08 GMT Sell GBP/USD at 1.5629 SL 1.5655 TP 1.5569, exit sent at 8:33 GMT+1.
Today so far +91, yesterday +93, as shown in details at http://www.zifx.com/performance.php.