Pound/Dollar made an upward correction yesterday. The currency couple reached a peak at 1.4706, but closed much lower at 1.4610. On the one hour chart we can see that the Cable is moving within the 1.4706 - 1.4466 range. In the long term the bearish scenario remains, with possible drop towards 1.4150 after the consolidation. Break under 1.4475 could lead to decreasing momentum with targets towards the region of 1.4365. Movement above 1.4710 would signal that the fall from 1.5372 is complete and a bottom at 1.4465 is formed, therefore upward correction can be restored towards 1.4950. The CCI indicator is in the neutral zone on the one hour chart.
Technical resistance levels: 1.4710 1.4810 1.4950
Technical support levels: 1.4475 1.4365 1.4230
Trading range: 1.4630 - 1.4565
Sell at 1.4616 SL 1.4646 TP 1.4576
Today we made already +37 pips profit on GBP/USD from the following signal:
6:19 GMT Sell GBP/USD at 1.4596 SL 1.4622 TP 1.4536 exited at 7:04 GMT
Today so far +157, yesterday +102, as shown at www.zifx.com/performance.php