GBP/USD 1.6398 - 16 July

GBP/USD Open 1.6434 High 1.6461 Low 1.6305 Close 1.6421

Pound/Dollar continued its upward impulse on Wednesday, reaching a peak at 1.6461, closing the day at 1.6421. Short term trend for the Cable is bullish. An important resistance is 1.6475. Break above this level may trigger further upward impetus towards next objective 1.6600. Medium term perspectives, however, are unclear till 1.6600 is untouched. The CCI indicator is about to cross down the 100 line on the hour chart, suggesting descending pressure with possible test of the 1.6305 support, followed by 1.6195.

Technical resistance levels: 1.6475 1.6600 1.6750

Technical support levels: 1.6305 1.6195 1.6070

Trading range: 1.6410 - 1.6335

Trend: Downward

Sell at 1.6398 SL 1.6428 TP 1.6348

Yesterday made already +29 pips profit on GBP/USD from the following signal:

5:38 GMT+1 Buy GBP/USD at 1.6351 SL 1.6325 TP 1.6411 exited at 7:14 GMT

Today so far +124, yesterday +160, as shown at www.zifx.com/performance.php