GBP/USD Open 1.6022 High 1.6080 Low 1.5930 Close 1.6049
On Friday Pound/Dollar increased with 150 pips after the bad US NFP, in converse with the negative Interbank sentiment at almost -17%. The Cable appreciated from 1.5930 to 1.6080 on Friday, closing the week at 1.6049. Today the British Pound is weakening, but movements are still within Friday's range for now. On the 1 hour chart range trading has formed, while on the 3 hour chart the downward channel has slowed down. First resistance is Friday's peak at 1.6080. Break above it should extend the bullish movement further towards 1.6200. The nearest support level is Friday's bottom at 1.5930. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5800. Today are UK PPI Output and Input, both at 8:30. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is neutral and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.6080 1.6200 1.6336
Technical support levels: 1.5930 1.5800 1.5671
Trading range: 1.5990 - 1.5920
Sell at 1.5980 SL 1.6010 TP 1.5930
Already made +60 pips profit on GBP/USD today from the following signal:
5:28 GMT+1 Sell GBP/USD at 1.6009 SL 1.6035 TP 1.5949, TP reached at at 8:23 GMT+1.
Today so far +124, on Friday +134, as shown in details at http://www.zifx.com/performance.php.