GBP/USD Open 1.5637 High 1.5706 Low 1.5425 Close 1.5632
On Tuesday Pound/Dollar continued increasing significantly with 280 pips, in converse with the negative Interbank sentiment at under -1%. The Cable appreciated from 1.5425 to 1.5706 yesterday, closing the day at 1.5632. Today the British Pound is trading hesitantly, and within yesterday's range for the time being. On the 1 hour chart the downward channel was broken upwards, while on the 3 hour chart the downward channel is on hold. First resistance is yesterday's peak at 1.5706. Break above it should extend the bullish movement further towards 1.5830. The nearest support level is yesterday's bottom at 1.5425. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5300. There are no major economic events for UK today. 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 neutral and calm, MACD is positive and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.5706 1.5830 1.5962
Technical support levels: 1.5425 1.5300 1.5166
Trading range: 1.5635 - 1.5710
Buy at 1.5646 SL 1.5616 TP 1.5696
Already made +57 pips profit on GBP/USD today from the following sent to clients only signal:
5:27 GMT+1 Buy GBP/USD at 1.5618 SL 1.5592 TP 1.5678, exit sent at 8:17 GMT+1.
Today so far +150, yesterday +124, as shown in details at http://www.zifx.com/performance.php.