GBP/USD Open 1.5959 High 1.6047 Low 1.5912 Close 1.5953

On Friday Pound/Dollar traded within 95 pip range, in line with the morning negative Interbank sentiment at under -8%, when the couple went down. The Cable depreciated to 1.5949 on Friday, than climbed up to 1.6047, closing the week at 1.6003. Today the British Pound resumed weakening, descending down to 1.5912. On the 1 hour chart the downward channel looks good, while on the 3 hour chart new downward channel has emerged. First resistance is Friday's peak at 1.6047. Break above it should extend the bullish movement further towards 1.6171. The nearest support level is today's bottom at 1.5912. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5790. 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 declining, MACD is negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.6047 1.6171 1.6300
Technical support levels: 1.5912 1.5790 1.5658

Trading range: 1.5970 - 1.5895
Trend: Downward
Sell at 1.5956 SL 1.5986 TP 1.5906

Already made +17 pips profit on GBP/USD today from the following signal:
7:38 GMT+1 Sell GBP/USD at 1.5955 SL 1.5981 TP 1.5895, exit sent at 7:45 GMT+1.
Today so far +80, on Friday +130, as shown in details at http://www.zifx.com/performance.php.

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