GBP/USD Technical Analysis 15 April 2010

on April 15 2010 3:59 AM

GBP/USD 1.5491 - 15 April 2010
GBP/USD Open 1.5468 High 1.5523 Low 1.5373 Close 1.5464

Pound/Dollar continued climbing on Wednesday, in converse with the Interbank sentiment, at around -32%. The Cable climbed yesterday from 1.5373 to 1.5489, closing the day at 1.5464. Today Sterling is making further increasing efforts. First resistance is today's top at 1.5523. Break above it should extend the bullish movement further towards 1.5600. The nearest support is yesterday's bottom at 1.5373. Going bellow it may shake the bull's strength, and could weaken the British Pound further down towards 1.5268. Today is the UK Nationwide consumer confidence at 23:01 GMT. Quotes are moving bellow the 20 and above the 50 EMA on the 1 hour chart, indicating slight bearish pressure. The values of RSI, MACD and CCI indicators are positive and declining on the 1 hour chart, giving overall short signals.Technical resistance levels: 1.5523 1.5600 1.5692Technical support levels: 1.5373 1.5268 1.5140

Trading range: 1.5505 - 1.5430Trend: DownwardSell at 1.5491 SL 1.5521 TP 1.5441

Already made +19 pips profit on GBP/USD today from the following signal:5:34 GMT+1 Buy GBP/USD at 1.5505 SL 1.5479 TP 1.5565 exit at 7:39 GMT+1.Today so far +89, yesterday +107, as shown in details at www.zifx.com/performance.php.

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