GBP/USD Open 1.5818 High 1.5834 Low 1.5723 Close 1.5825
On Thursday Pound/Dollar increased with 110 pips. The Cable appreciated from 1.5723 to 1.5834 yesterday, in line with the positive Interbank sentiment at almost +47%, closing the day at 1.5825. Today the British Pound began adjusting downwards, with movements still within yesterday's range for the time being. On the 1 hour chart range trading has formed, while on the 3 hour chart quotes have also moved into a range. First resistance is yesterday's peak at 1.5834. Break above it should extend the bullish movement further towards 1.5950. The nearest support level is yesterday's bottom at 1.5723. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5600. Today are UK Industrial production, Manufacturing output, and PPI Output and Input, all at 9:30 GMT. Quotes are moving bellow the 20 and in line with the 50 EMA on the 1 hour chart, indicating short term bearish and medium term neutral pressure. The value of the RSI indicator is positive and declining, MACD is negative and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.5834 1.5950 1.6082
Technical support levels: 1.5723 1.5600 1.5464
Already made +10 pips profit on GBP/USD today from the following sent to clients only signal:
6:19 GMT Sell GBP/USD at 1.5800 SL 1.5826 TP 1.5740, exit sent at 6:20 GMT+1.
Today so far +63, yesterday +183, as shown in details at http://www.zifx.com/performance-past.php.