On Friday Pound/Dollar made a descending movement. On the 1 hour chart is seen that the bearish impulse came after the Sterling failed to break above the 1.6650 level. Short term signals are descending with possible testing of 1.6250, but remain neutral in the medium term. Immediate resistance is represented by the key 1.6500 level. The nearest support is 1.6300. Break under this level may trigger a further fall of the Cable towards 1.6190. The CCI indicator passed down the 100 line on the 4 hour chart, signaling for downward pressure.
Technical resistance levels: 1.6500 1.6650 1.6790
Technical support levels: 1.6300 1.6190 1.6070
Trading range: 1.6365 - 1.6290
Sell at 1.6351 SL 1.6381 TP 1.6301
Today we made already +60 pips profit on GBP/USD from the following signal:
5:40 GMT+1 Sell GBP/USD at 1.6391 SL 1.6417 TP 1.6331 TP reached at 7:25 GMT
Today so far +163, on Friday +134, as shown at www.zifx.com/performance.php