GBP/USD 1.5822 - 10 August 2010

GBP/USD Open 1.5903 High 1.5992 Low 1.5772 Close 1.5895

On Monday Pound/Dollar also decreased, in converse with the positive Interbank sentiment at nearly +20%. The Cable depreciated from 1.5992 to 1.5882 yesterday, closing the day at 1.5895. Today the pair extended its descending down to 1.5772. On the 1 hour chart quotes are testing the lower limit of the the upward channel, while on the 3 hour chart the upward channel looks good. First resistance is yesterday's peak at 1.5992. Break above it should extend the bullish movement further towards 1.6021. The nearest support is today's bottom at 1.5772. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5650. Today are the UK Trade in goods and UK Non-EU trade June, both at 8:30 GMT. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and inclining upwards, MACD is negative and calm, while CCI has crossed down the 100 line on the 1 hour chart, giving overall short signals.
Technical resistance levels: 1.5992 1.6021 1.6150
Technical support levels: 1.5772 1.5650 1.5534

Already made +36 pips profit on GBP/USD today from the following signal:
6:37 GMT+1 Sell GBP/USD at 1.5822 SL 1.5848 TP 1.5762 exit sent 7:54 GMT+1.
Today so far +86, yesterday +91, as shown in details at