The descending movement of the Pound/Dollar continued yesterday, which today accelerated further downwards. The currency couple dropped to the bottom 1.4319, and closed the day at 1.4394. On the 4 hour chart the upward channel was penetrated downwards. Short term signals are decreasing with the goals towards the region of 1.4150. 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: 1.4415 1.4535 1.4630
Technical support levels: 1.4150 1.4000 1.3885
Trading range: 1.4245 - 1.4170
Sell at 1.4233 SL 1.4263 TP 1.4183
Today we made already +60 pips profit on GBP/USD from the following signal:
7:09 GMT Sell GBP/USD at 1.4397 SL 1.4423 TP 1.4337 TP reached at 8:02 GMT
Today so far +119, yesterday +129, as shown at www.zifx.com/performance.php