GBP/USD 1.5157 - 14 May

GBP/USD Open 1.5148 High 1.5331 Low 1.5085 Close 1.5153

Pound/Dollar made a downward correction yesterday. The Cable reached a bottom at 1.5085 and closed at 1.5153. This suggests that at present there is no clearly defined trading direction or range. Strong resistance is the key 1.5360 level. The nearest support is 1.5060. Break below this level may lead to further descending momentum and may be a warning for potential weakening of the upward scenario in the long term. The CCI indicator just crossed down the 100 line on the daily chart, suggesting potential downward pressure.

Technical resistance levels: 1.5360 1.5480 1.5600

Technical support levels: 1.5060 1.4945 1.4840

Trading range: 1.5170 - 1.5105

Trend: Downward

Sell at 1.5157 SL 1.5187 TP 1.5117

Today we made already +37 pips profit on GBP/USD from the following signal:

5:46 GMT+1 Sell GBP/USD at 1.5143 SL 1.5169 TP 1.5083 exited at 7:05 GMT

Today so far +113, yesterday +119, as shown at www.zifx.com/performance.php