GBP/USD Open 1.6303 High 1.6346 Low 1.6262 Close 1.6295
On Friday Pound/Dollar traded within narrow 75 pip range, in converse with the positive Interbank sentiment at over +5%. The Cable depreciated from 1.6328 to 1.6262 on Friday, closing the week at 1.6295. Today the British Pound jumped in early trading, climbing up to 1.6346, but later weakened. On the 1 hour chart new upward channel has formed, while on the 3 hour chart new upward channel is emerging. First resistance is today's peak at 1.6346. Break above it should extend the bullish movement further towards 1.6462. The nearest support level is Friday's bottom at 1.6262. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6140. 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 positive and descending, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.6346 1.6462 1.6600
Technical support levels: 1.6262 1.6140 1.6000
Trading range: 1.6300 - 1.6225
Sell at 1.6286 SL 1.6316 TP 1.6236
Already made +29 pips profit on GBP/USD today from the following signal:
5:29 GMT+1 Buy GBP/USD at 1.6300 SL 1.6274 TP 1.6360, exit sent at 7:42 GMT+1.
Today so far +140, on Friday +110, as shown in details at http://www.zifx.com/performance.php.