GBP/USD Open 1.6436 High 1.6477 Low 1.6317 Close 1.6453
On Tuesday Pound/Dollar increased with 160 pips, in line with the positive Interbank sentiment at nearly +16%. The Cable appreciated from 1.6317 to 1.6477 yesterday, closing the day at 1.6453. Today the British Pound is trading hesitantly, with movements within yesterday's range for the time being. On the 1 hour quotes are testing the upper limit of the trading range, while on the 3 hour chart trading is within wider range. First resistance is yesterday's peak at 1.6477. Break above it should extend the bullish movement further towards 1.6600. The nearest support level is yesterday's bottom at 1.6317. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6200. Today are UK Claimant count, Average earnings, ILO Jobless rate, and BoE meeting minutes, all at 8:30 GMT. Quotes are moving bellow the 20 and above the 50 EMA on the 1 hour chart, indicating short term bearish and medium term bullish pressure. The value of the RSI indicator is negative and declining, MACD is positive and calm, while CCI is in line with the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.6477 1.6600 1.6741
Technical support levels: 1.6317 1.6200 1.6068
Trading range: 1.6410 - 1.6485
Buy at 1.6421 SL 1.6391 TP 1.6471
Already made +33 pips profit on GBP/USD today from the following signal:
5:25 GMT+1 Buy GBP/USD at 1.6421 SL 1.6395 TP 1.6481, exit sent at 7:51 GMT+1.
Today so far +122, yesterday +122, as shown in details at http://www.zifx.com/performance.php.