GBP/USD 1.5402 - 12 April 2010
Pound/Dollar followed the Euro up on Friday, in converse with the negative Interbank sentiment at around -8%. The Cable rose on Friday from 1.5268 to 1.5383, closing the week at 1.5366. Today, however, Sterling is showing weakness. First resistance is today's top at 1.5486. Break above it should extend the bullish movement further towards 1.5600. The nearest support is Friday's bottom at 1.5268. Going bellow it may shake the bull's strength, and could weaken the Sterling further down towards 1.5140. There are no major economic events today for UK. Quotes are still moving above the 20 and 50 EMA on the 1 hour chart, indicating slight bullish pressure. The values of RSI, MACD and CCI indicators are all positive and declining on the 1 hour chart, giving overall range signals.
Technical resistance levels: 1.5486 1.5600 1.5692
Technical support levels: 1.5268 1.5140 1.5060
Already made +60 pips profit on GBP/USD today from the following signal:
5:58 GMT+1 Sell GBP/USD at 1.5486 SL 1.5512 TP 1.5426 TP reached at 7:51 GMT+1.
Today so far +198, on Friday +110, as shown in details at www.zifx.com/performance.php.