Yesterday Pound/Dollar made a bottom at 1.4238, where the decreasing scenario was limited and the pair closed the day higher at 1.4320. On the 4 hour chart is seen how the downward movement was unable to break down the trend line support and the Cable traded within a small range. Short term signals are neutral. Valid break of trend line should bring further decreasing scenario with test of the 1.4025. Immediate resistance is seen at 1.4370, followed by 1.4480. The CCI indicator crossed up the 100 line on the 4 hour chart, signaling for potential upward pressure.
Technical resistance levels: 1.4370 1.4485 1.4630
Technical support levels: 1.4110 1.4005 1.3870
Trading range: 1.4320 - 1.4395
Buy at 1.4331 SL 1.4301 TP 1.4381
Today we made already +24 pips profit on GBP/USD from the following signal:
5:49 GMT Sell GBP/USD at 1.4295 SL 1.4321 TP 1.4235 exited at 6:53 GMT
Today so far +154, yesterday +111, as shown at www.zifx.com/performance.php