GBP/USD Open 1.5503 High 1.5743 Low 1.5445 Close 1.5496
On Wednesday Pound/Dollar decreased significantly with 260 pips, in line with the negative Interbank sentiment at under -35%. The Cable depreciated from 1.5743 to 1.5484 yesterday, closing the day at 1.5496. Today the British Pound weakened even further, reaching 1.5445. On the 1 hour chart the downward channel looks good, while on the 3 hour chart the downward channel is also intact. First resistance is yesterday's peak at 1.5743. Break above it should extend the bullish movement further towards 1.5866. The nearest support level is today's bottom at 1.5445. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5322. Today are UK CBI industrial order books and output balances, both at 10 GMT. Quotes are moving just bellow the twisted 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and declining, MACD is negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 1.5743 1.5866 1.6000
Technical support levels: 1.5445 1.5322 1.5190
Trading range: 1.5500 - 1.5425
Sell at 1.5486 SL 1.5516 TP 1.5436
Already made +32 pips profit on GBP/USD today from the following sent to clients only signal:
7:54 GMT+1 Sell GBP/USD at 1.5492 SL 1.5518 TP 1.5432, exit sent at 8:36 GMT+1.
Today so far +140, yesterday +211, as shown in details at http://www.zifx.com/performance.php.