On Monday Pound/Dollar was under bearish pressure till it reached the 1.6187 bottom and strong support, from where the Cable jumped, closing the day at 1.6287. Oscillators also showed upward indications, which continue today. Today the Sterling tested the 1.6375 resistance, the break of which may change the trend direction upwards. The nearest support is yesterday's bottom at 1.6185. Going under that level would confirm continuation of Pound weakening. The CCI indicator has crossed up the 100 line on the 1 hour chart, suggesting further bullish pressure.
Technical resistance levels: 1.6375 1.6500 1.6650
Technical support levels: 1.6185 1.6070 1.5940
Buy at 1.6332 SL 1.6302 TP 1.6382
Already made +60 pips profit on GBP/USD today from the following signal:
7:03 GMT+1 Buy GBP/USD at 1.6317 SL 1.6291 TP 1.6377 TP reached at 8:42 GMT
Today so far +110, yesterday +109, as shown at www.zifx.com/performance.php