GBP/USD Open 1.6057 High 1.6079 Low 1.6008 Close 1.6048

On Thursday Pound/Dollar traded within 70 pip range. The Cable appreciated from 1.6008 to 1.6079 yesterday, in line with the positive Interbank sentiment at almost +31%, closing the day at 1.6048. Today the British Pound is trading quietly, with push ups limited by yesterday's top for the time being. On the 1 hour chart quotes are breaking out of the trading range, while on the 3 hour chart new upward channel is emerging. First resistance is yesterday's peak at 1.6079. Break above it should extend the bullish movement further towards 1.6200. The nearest support level is yesterday's bottom at 1.6008. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5881. Today is UK Retail sales at 8:30 GMT. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and tranquil too, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.6079 1.6200 1.6334
Technical support levels: 1.6008 1.5881 1.5750
Already made +25 pips profit on GBP/USD today from the following sent to clients only signal:
5:17 GMTGMT+1 Buy GBP/USD at 1.6054 SL 1.6028 TP 1.6114, exit sent at 8:19 GMTGMT+1.
Today so far +61, yesterday +124, as shown in details at http://www.zifx.com/performance-past.php.

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