GBP/USD Open 1.5871 High 1.5924 Low 1.5810 Close 1.5864
On Wednesday Pound/Dollar continued trading within 110 pip range. The Cable depreciated from 1.5924 to 1.5816 yesterday, in converse with the positive Interbank sentiment at over +35%, closing the day at 1.5864. Today the British Pound weakened slightly, dropping down to 1.5810. On the 1 hour chart range trading has formed, while on the 3 hour chart the trading in range continues. First resistance is yesterday's peak at 1.5924. Break above it should extend the bullish movement further towards 1.6050. The nearest support level is yesterday's bottom at 1.5816. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5690. Today are UK Nationwide consumer confidence and Retail sales, at 0:01 and 9:30 GMT respectively. Quotes are moving just bellow the almost even 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 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: 1.5924 1.6050 1.6182
Technical support levels: 1.5810 1.5690 1.5554
Already made +27 pips profit on GBP/USD today from the following sent to clients only signal:
5:18 GMT Buy GBP/USD at 1.5866 SL 1.5840 TP 1.5926, exit sent at 7:15 GMT+1.
Today so far +121, yesterday +92, as shown in details at http://www.zifx.com/performance-past.php.