GBP/USD 1.6495 - 11 August

GBP/USD Open 1.6475 High 1.6720 Low 1.6434 Close 1.6479

Pound/Dollar continued the bearish movement on Monday. The Cable made a bottom at 1.6434, and closed the day at 1.6479. Today, signals for the Sterling continue to be descending, and our preferable short term trend scenario is downwards, and neutral in the medium term. A convincing movement above the first resistance at 1.6720 will confirm the ascending scenario and may trigger further upward impulse towards 1.6835. Immediate support is is yesterday's bottom at 1.6435. Break bellow that level might trigger further descending pressure with possible testing of 1.6305. The CCI indicator is about to cross down the 100 line on the 1 hour chart, assuming potential bearish intraday views.

Technical resistance levels: 1.6720 1.6835 1.6960

Technical support levels: 1.6435 1.6305 1.6180

Trading range: 1.6505 - 1.6435

Trend: Downward

Sell at 1.6495 SL 1.6525 TP 1.6445

Already made +51 pips profit on GBP/USD today from the following signal:

5:38 GMT+1 Sell GBP/USD at 1.6492 SL 1.6518 TP 1.6432 exited at 8:40 GMT

Today so far +109, yesterday +113, as shown at