After breaking down from 1.4322, yesterday Pound/Dollar showed a descending momentum, with bottom at 1.4135 but closing higher at 1.4267. At the 1 hour chart we have a formed reverse hammer, after the downward movement, and the quotes now form a new ascending channel. Short term signals are rising with targets towards the region of the 1.4550 resistance. The first support level is 1.4235, and the nearest resistance is the former support at 1.4550. The CCI indicator just crossed up the 100 line on the 4 hour chart, suggesting upwards pressure.
Technical resistance levels: 1.4550 1.4665 1.4800
Technical support levels: 1.4235 1.4150 1.4000
Trading range: 1.4440 - 1.4515
Buy at 1.4452 SL 1.4422 TP 1.4502
Today we made already +30 pips profit on GBP/USD from the following signal:
5:47 GMT Sell GBP/USD at 1.4372 SL 1.4398 TP 1.4312 exited at 7:03 GMT
Today so far +106, yesterday +119, as shown at www.zifx.com/performance.php