Pound/Dollar was trading hesitantly on Thursday. The Cable could not break convincingly the 1.6475 resistance level, and closed the day at 1.6436. On the 1 hour chart there is a formed descending wedge, technically meaning a downwards reversal of the trend. Signals are bearish in the short term, and neutral in the medium term. Immediate support is 1.6300, followed by 1.6180. The CCI indicator has crossed down the 100 line on the 1 hour chart, assuming potential descending views.
Technical resistance levels: 1.6475 1.6600 1.6750
Technical support levels: 1.6305 1.6195 1.6070
Trading range: 1.6345 - 1.6270
Sell at 1.6333 SL 1.6363 TP 1.6283
Yesterday made already +40 pips profit on GBP/USD from the following signal:
5:41 GMT+1 Buy GBP/USD at 1.6375 SL 1.6349 TP 1.6435 exited at 6:49 GMT
Today so far +93, yesterday +124, as shown at www.zifx.com/performance.php