Pound/Dollar failed to continue the rising scenario yesterday. The currency couple attempted to rise to the top 1.5066, but failed to stay above the psychological 1.5050 level, slumped to the bottom 1.4836, and closed the day at 1.4920. On the 4 hour chart there is a formed ascending wedge, which is a warning for potential reverse of the current descending channel. Short term resistance is 1.4945. Immediate support is today's bottom 1.4795. The CCI indicator is in the overbought zone and downwards of the daily chart, assuming potential descending pressure.
Technical resistance levels: 1.4945 1.5070 1.5200
Technical support levels: 1.4795 1.4700 1.4565
Trading range: 1.4865 - 1.4790
Sell at 1.4851 SL 1.4881 TP 1.4801
Today we made already +60 pips profit on GBP/USD from the following signal:
5:45 GMT+1 Sell GBP/USD at 1.4867 SL 1.4893 TP 1.4807 TP reached at 7:07 GMT
Today so far +127, yesterday +102, as shown at www.zifx.com/performance.php