The swing formation give us a valid signal for descending conversion yesterday. Pound/Dollar dropped to the bottom 1.4456, and closed the day at 1.4542. Of the 4 hour chart the upward channel was penetrated downwards. Short term signals are decreasing with the goals towards the region of 1.4285. Immediate resistance is 1.4570, followed by 1.4640. The CCI indicator has just crossed down the 100 line of the daily chart, signaling for decreasing pressure.
Technical resistance levels: 1.4570 1.4640 1.4765
Technical support levels: 1.4590 1.4500 1.4375
Trading range: 1.4460 - 1.4400
Sell at 1.4460 SL 1.4490 TP 1.4410
Today we made already +57 pips profit on GBP/USD from the following signal:
5:47 GMT Buy Sell GBP/USD at 1.4459 SL 1.4485 TP 1.4399 exited at 6:03 GMT
Today so far +129, yesterday +176, as shown at www.zifx.com/performance.php