GBP/USD 1.4751 - 15 June 2010

GBP/USD Open 1.4732 High 1.4806 Low 1.4549 Close 1.4742

After a strong decrease on Friday, on Monday Pound/Dollar recovered all losses from Friday, in converse with negative Interbank sentiment at nearly -35%. The Cable appreciated from 1.4549 to 1.4806 yesterday, closing the day at 1.4742. Today the pair is correcting downwards, and moves without clear direction for now. First resistance is yesterday's top at 1.4806. Break above it should extend the bullish movement further towards 1.4889. The nearest support is yesterday's bottom at 1.4549. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.4398. Today's focus is on UK HICP, Retail prices and RPI-X, all at 8:30 GMT. Quotes are moving bellow the 20 and above the 50 EMA on the 1 hour chart, indicating short term bearish pressure. The value of the RSI indicator is neutral and inclining upwards, MACD is positive and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving overall short signals.Technical resistance levels: 1.4806 1.4889 1.5000Technical support levels: 4549 1.4398 1.4250

Trading range: 1.4765 - 1.4690Trend: DownwardSell at 1.4751 SL 1.4781 TP 1.4701

Already made +27 pips profit on GBP/USD today from the following signal:7:13 GMT+1 Sell GBP/USD at 1.4722 SL 1.4748 TP 1.4662 exit at 7:27 GMT+1.Today so far +74, yesterday +160, as shown in details at