Pound/Dollar made a decreasing movement on Monday. The Cable dropped down to 1.6037, where the bearish impulse was limited. The currency couple than bounced upwards, rising up to 1.6265, closing the day at 1.6226. Today the Sterling is trading quietly, showing downward correctional efforts. A strong resistance is represented by the 1.6305 level. A convincing break above this level may trigger a upwards impetus towards next objective 1.6420. Immediate support is yesterday's bottom at 1.6055, followed by 1.5920. Break under this level may cause further bearish momentum. The CCI indicator has crossed the 100 line on the 1 hour chart, suggesting upwards pressure.
Technical resistance levels: 1.6305 1.6420 1.6500
Technical support levels: 1.6055 1.5920 1.5800
Trading range: 1.6315 - 1.6240
Sell at 1.6302 SL 1.6332 TP 1.6252
Yesterday made already +49 pips profit on GBP/USD from the following signal:
7:18 GMT+1 Sell GBP/USD at 1.6284 SL 1.6310 TP 1.6224 exited at 7:59 GMT
Today so far +182, yesterday +88, as shown at www.zifx.com/performance.php