GBP/USD 1.6333 - 17 July

GBP/USD Open 1.6412 High 1.6467 Low 1.6302 Close 1.6436

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

Trend: Downward

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