GBP/USD Open 1.5517 High 1.5563 Low 1.5464 Close 1.5539
On Friday Pound/Dollar traded within 80 pip range. The Cable depreciated from 1.5563 to 1.5482 on Friday, in converse with the positive Interbank sentiment at bellow +17%, closing the week at 1.5539. Today the British Pound weakened slightly further, descending to 1.5464. On the 1 hour chart quotes bounced from the lower limit of the wide range, while on the 3 hour chart the downward channel is still making renewal attempts. First resistance is Friday's peak at 1.5563. Break above it should extend the bullish movement further towards 1.5700. The nearest support level is today's bottom at 1.5464. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5336. There are no major economic events for UK today. Quotes are moving just bellow the even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and inclining upwards, MACD is thinly negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all neutral to light short signals.
Technical resistance levels: 1.5563 1.5700 1.5840
Technical support levels: 1.5464 1.5336 1.5200
Trading range: 1.5470 - 1.5545
Buy at 1.5482 SL 1.5452 TP 1.5532
Already made +19 pips profit on GBP/USD today from the following sent to clients only signal:
5:19 GMT Sell GBP/USD at 1.5500 SL 1.5526 TP 1.5440, exit sent at 8:03 GMT+1.
Today so far +47, on Friday +107, as shown in details at http://www.zifx.com/performance.php.