GBP/USD 1.6063 - 1 April 2011

GBP/USD Open 1.6032 High 1.6152 Low 1.6014 Close 1.6025

On Tuesday Pound/Dollar continued increasing, climbing with almost 90 pips, in line with the positive Interbank sentiment at over +4%, than lost the earlier gains. The Cable appreciated first from 1.6066 to 1.6152 yesterday, than dropped down to 1.6014, closing the day at 1.6025. Today the British Pound is trying to push up again, but it's within yesterday's range for the time being. On the 1 hour chart quotes returned to the trading range, while on the 3 hour chart trading is still within a wide range. First resistance is yesterday's peak at 1.6152. Break above it should extend the bullish movement further towards the 1.6270. The nearest support is yesterday's bottom at 1.6014. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5880. Today is UK CIPS manufacturing index at 8:30 GMT. Quotes are moving just above the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is negative and calm, MACD is thinly negative and quiet too, while CCI has crossed up the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.6152 1.6270 1.6400
Technical support levels: 1.6014 1.5880 1.5748

Trading range: 1.6050 - 1.6125
Trend: Upward
Buy at 1.6063 SL 1.6033 TP 1.6113

Already made +44 pips profit on GBP/USD today from the following signal:
5:29 GMT+1 Buy GBP/USD at 1.6038 SL 1.6012 TP 1.6098, exit sent at 8:08 GMT+1.
Today so far +85, yesterday +133, as shown in details at