GBP/USD 1.6420 - 14 June 2011

GBP/USD Open 1.6368 High 1.6443 Low 1.6212 Close 1.6372

On Monday Pound/Dollar also recovered significantly with 180 pips, in converse with the negative Interbank sentiment at bellow -8%. The Cable appreciated from 1.6212 to 1.6391 yesterday, closing the day at 1.6372. Today the British Pound ascended even further, climbing up to 1.6443. On the 1 hour chart new range trading has emerged, while on the 3 hour chart trading is within wider range. First resistance is today's peak at 1.6443. Break above it should extend the bullish movement further towards 1.6562. The nearest support level is yesterday's bottom at 1.6212. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6090. Today are UK HICP, Retail prices and RPI-X, all at 8:30 GMT respectively. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and tranquil too, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 1.6443 1.6562 1.6700
Technical support levels: 1.6212 1.6090 1.5962

Trading range: 1.641 - 1.6480
Trend: Upward
Buy at 1.6420 SL 1.6390 TP 1.6470

Already made +36 pips profit on GBP/USD today from the following signal:
5:29 GMT+1 Buy GBP/USD at 1.6407 SL 1.6381 TP 1.6467, exit sent at 8:11 GMT+1.
Today so far +91, yesterday +73, as shown in details at