As expected, the Pound/Dollar continued the downward movement yesterday. The currency couple reached the short term target 1.4555 and the bottom 1.4471, and closed at 1.4497. Signals remain descending with short term targets towards 1.4356. Immediate support is seen at 1.4460, break of which may lead to further weakening of the Cable. The CCI indicator has just crossed up the line 100 on the one hour chart, which suggests increasing pressure with the potential of testing the resistance levels 1.4700 and 1.4810.
Technical resistance levels: 1.4700 1.4810 1.4915
Technical support levels: 1.4460 1.4350 1.4230
Trading range: 1.4630 - 1.4565
Sell at 1.4617 SL 1.4647 TP 1.4577
Today we made already +16 pips profit on GBP/USD from the following signal:
5:48 GMT Sell GBP/USD at 1.4596 SL 1.4622 TP 1.4536 exited at 5:49 GMT
Today so far +102, yesterday +155, as shown at www.zifx.com/performance.php