GBP/USD Open 1.6096 High 1.6131 Low 1.6034 Close 1.6085
On Tuesday Pound/Dollar increased insignificantly with almost 100 pips. The Cable appreciated from 1.6034 to 1.6131 yesterday, in line with the positive Interbank sentiment at above +28%, closing the day at 1.6085. Today the British Pound is trading quietly, with movements within yesterday's range for the time being. On the 1 hour chart range trading has formed, while on the 3 hour chart the upward channel is making renewal attempts. First resistance is yesterday's peak at 1.6131. Break above it should extend the bullish movement further towards 1.6250. The nearest support level is yesterday's bottom at 1.6034. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5900. Today are UK Trade in goods and Non-EU trade, both at 08:30 GMT. Quotes are moving in line with the 20 and above 50 EMA on the 1 hour chart, indicating short term neutral and medium term bullish pressure. The value of the RSI indicator is negative and declining, MACD is positive and tranquil, while CCI has just crossed up the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.6131 1.6250 1.6382
Technical support levels: 1.6034 1.5900 1.5869
Trading range: 1.6075 - 1.6150
Buy at 1.6089 SL 1.6059 TP 1.6139
Already made +23 pips profit on GBP/USD today from the following sent to clients only signal:
5:23 GMT Buy GBP/USD at 1.6084 SL 1.6058 TP 1.6144, exit sent at 8:11 GMT+1.
Today so far +81, yesterday +75, as shown in details at http://www.zifx.com/performance.php.