GBP/USD 1.6045 - 1 February 2011

GBP/USD Open 1.6023 High 1.6080 Low 1.5819 Close 1.6011

On Monday Pound/Dollar increased with over 200 pips, in converse with the neutral Interbank sentiment at nearly +2%. The Cable appreciated from 1.5819 to 1.6023, closing the day at 1.6011. Today the British Pound strengthened further up to 1.6080. On the 1 hour chart the range trading was broken upwards, while on the 3 hour chart the upward channel is making renewal efforts. First resistance is today's peak at 1.6080. Break above it should extend the bullish movement further towards the 1.6200. The nearest support is yesterday's bottom at 1.5819. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5700. Today are UK Nationwide and Halifax house price index, CIPS manufacturing index, M4 money supply and Consumer credit, at 7, 8 and 9:30 GMT respectively. 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 inclining upwards, MACD is positive and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 1.6080 1.6200 1.6313
Technical support levels: 1.5819 1.5700 1.5579

Trading range: 1.6035 - 1.6105
Trend: Upward
Buy at 1.6045 SL 1.6015 TP 1.6095

Already made +28 pips profit on GBP/USD today from the following signal:
5:33 GMT Buy GBP/USD at 1.6052 SL 1.6026 TP 1.6112, exit sent at 5:50 GMT.
Today so far +97, yesterday +92, as shown in details at