GBP/USD Technical Analysis 13 April 2010

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GBP/USD 1.5351 - 13 April 2010
GBP/USD Open 1.5372 High 1.5486 Low 1.5338 Close 1.5369

Pound/Dollar also consolidated on Monday, in line with the Interbank sentiment, at around -27%. The Cable dropped yesterday from 1.5486 to 1.5357, closing the day at 1.5369. Today, however, Sterling is trying to resume recovery. First resistance is yesterday's peak at 1.5486. Break above it should extend the bullish movement further towards 1.5600. The nearest support is today's bottom at 1.5338. Going bellow it may shake the bull's strength, and could weaken the Sterling further down towards 1.5268. Today are the UK Trade in goods and Non-EU trade at 8:30 GMT. Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slight bearish pressure. The values of RSI indicator is positive and declining, MACD is negative and calm, while CCI is neutral declining on the 1 hour chart, giving overall mild short signals.Technical resistance levels: 1.5486 1.5600 1.5692Technical support levels: 1.5338 1.5268 1.5140

Trading range: 1.5340 - 1.5415Trend: UpwardBuy at 1.5351 SL 1.5321 TP 1.5401

Already made +25 pips profit on GBP/USD today from the following signal:6:35 GMT+1 Buy GBP/USD at 1.5369 SL 1.5343 TP 1.5429 exit at 7:14 GMT+1.Today so far +64, yesterday +198, as shown in details at www.zifx.com/performance.php.

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