Pound/Dollar made a decreasing movement on Friday. The downward correction on the daily chart shows that since the Cable is trading lower from the end of last month, a key support level is 1.6000. Short term signals are downwards for now. A strong resistance is represented by the 1.6220 level. A convincing break above this level may trigger a upwards impetus towards 1.6350. Immediate support is 1.6055, followed by 1.5950. Break under this level may cause further bearish impetus. The CCI indicator has crossed down the 100 line on the 1 hour chart, signaling for further potential bearish pressure.
Technical resistance levels: 1.6220 1.6370 1.6500
Technical support levels: 1.6055 1.5900 1.5775
Trading range: 1.6100 - 1.6025
Sell at 1.6087 SL 1.6117 TP 1.6037
Yesterday made already +12 pips profit on GBP/USD from the following signal:
5:43 GMT+1 Buy GBP/USD at 1.6115 SL 1.6089 TP 1.6175 exited at 5:47 GMT
Today so far +80, on Friday +162, as shown at www.zifx.com/performance.php