GBP/USD Open 1.6051 High 1.6263 Low 1.6016 Close 1.6067

On Tuesday Pound/Dollar sharply decreased with 210 pip range, not exactly in line with the neutral Interbank sentiment at nearly -1%. The Cable depreciated from 1.6263 to 1.6051 yesterday, closing the day at 1.6067. Today the British Pound extended its losses down to 1.6016. On the 1 hour chart the downward channel has renewed, while on the 3 hour chart wide downward channel is taking shape. First resistance is yesterday's peak at 1.6263. Break above it should extend the bullish movement further towards 1.6390. The nearest support level is today's bottom at 1.6016. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5890. There are no major economic events for UK today. Quotes are moving just bellow the 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 negative and tranquil too, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.6263 1.6390 1.6520
Technical support levels: 1.6016 1.5890 1.5756

Trading range: 1.6055 - 1.5980
Trend: Downward
Sell at 1.6043 SL 1.6073 TP 1.5993

Already made +28 pips profit on GBP/USD today from the following signal:
5:30 GMT+1 Sell GBP/USD at 1.6048 SL 1.6074 TP 1.5988, exit sent at 8:28 GMT+1.
Today so far +103, yesterday +129, as shown in details at http://www.zifx.com/performance.php.

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