GBP/USD Open 1.5952 High 1.6001 Low 1.5912 Close 1.5948
On Tuesday Pound/Dollar traded within 60 pip range. The Cable appreciated from 1.5941 to 1.6001 yesterday, in line with the positive Interbank sentiment at over +39%, closing the day at 1.5948. Today the British Pound weakened slightly, descending down to 1.5912. On the 1 hour chart new upward channel has emerged, while on the 3 hour chart quotes are testing the upper limit of the wide range. First resistance is yesterday's peak at 1.6001. Break above it should extend the bullish movement further towards 1.6120. 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. Today is UK GDP Q4 at 8:30 GMT. Quotes are moving in 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 hesitant, MACD is neutral and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.6001 1.6120 1.6253
Technical support levels: 1.5912 1.5790 1.5655
Already made +20 pips profit on GBP/USD today from the following sent to clients only signal:
7:33 GMT Buy GBP/USD at 1.5934 SL 1.5908 TP 1.5994, exit sent at 8:20 GMTGMT+1.
Today so far +105, yesterday +83, as shown in details at http://www.zifx.com/performance-past.php.