GBP/USD 1.4081 - 17 March

GBP/USD Open 1.3906 High 1.4228 Low 1.3862 Close 1.4072

Pound/Dollar continued the upward momentum yesterday. The currency couple reached a peak at 1.4228, but closed the day lower at 1.4072. Of the 4 hour chart we can see that pushed by the current bullish momentum, the Cable attempted to break the main downward trend line, but it withstood the breakthrough. If the trend line is distorted upwards, we may see further increasing momentum with goals towards the region of 1.4280. However, expectations are for a continuation of the correction towards 1.3850 prior to spring upwards. The CCI i has just passed down the 100 line of the 4 hour chart, signaling for potential descending pressure with test of the support level 1.3950.

Technical resistance levels: 1.4230 1.4360 1.4510

Technical support levels: 1.3860 1.3725 1.3580

Trading range: 1.4095 - 1.4020

Trend: Downward

Sell at 1.4081 SL 1.4111 TP 1.4031

Today we made already +38 pips profit on GBP/USD from the following signal:

6:06 GMT Buy GBP/USD at 1.4080 SL 1.4054 TP 1.4140 exited at 6:22 GMT

Today so far +112, yesterday +82, as shown at