GBP/USD 1.4867 - 11 May 2010
GBP/USD Open 1.4856 High 1.5055 Low 1.4762 Close 1.4844

Pound/Dollar climbed on Monday, following the partial recovery of the Euro, in converse with the negative Interbank sentiment at around -56%. The Cable appreciated yesterday from 1.4762 to 1.5055, than started loosing its gains, closing the day at 1.4844. Today the Sterling continues with slight descend. First resistance is yesterday's top at 1.5055. Break above it should extend the bullish movement further towards 1.5146. The nearest support is yesterday's bottom at 1.4762. Going bellow it should extend British Pound's weakening further down towards next downward target 1.4512. Today is the UK Industrial production and Manufacturing output at 8:30 GMT. Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The values of the RSI and CCI indicators are positive and rising, while MACD is neutral and quiet on the 1 hour chart, giving overall mixed signals.Technical resistance levels: 1.5055 1.5146 1.5270Technical support levels: 1.4762 1.4512 1.4400

Trading range: 1.4880 - 1.4795Trend: DownwardSell at 1.4867 SL 1.4897 TP 1.4807

Already made +60 pips profit on GBP/USD today from the following signal:6:04 GMT+1 Sell GBP/USD at 1.4844 SL 1.4870 TP 1.4784 TP reached 7:06 GMT+1.Today so far +198, yesterday +163, as shown in details at