After the downward correction on Wednesday, yesterday Pound/Dollar showed a moderate upward momentum, reached a top at 1.5248, and closed the day at 1.5230. On the 1 hour chart we have head and shoulders formation, which technically is considered as a potential bearish reversal, from the current right shoulder level around 1.5245. Break below the immediate support level at 1.5060 may lead to further decreasing scenario. Trading signals, however, remain neutral for the time being. The nearest resistance is represented by the 1.5360 level. The CCI indicator indicator is about to cross down the 100 line on the 1 hour chart, signaling for potential downward pressure.
Technical resistance levels: 1.5330 1.5460 1.5590
Technical support levels: 1.5060 1.4945 1.4840
Trading range: 1.5255 - 1.5180
Sell at 1.5243 SL 1.5273 TP 1.5193
Today we made already +51 pips profit on GBP/USD from the following signal:
5:45 GMT+1 Sell GBP/USD at 1.5231 SL 1.5257 TP 1.5171 exited at 7:47 GMT
Today so far +187, yesterday +113, as shown at www.zifx.com/performance.php