GBP/USD 1.6384 - 18 August 2009

GBP/USD Open 1.6335 High 1.6514 Low 1.6277 Close 1.6346

On Monday Pound/Dollar made a significant downward movement with over 200 pips, as expected, reaching a bottom at 1.6277, and closing the day at 1.6346. On the 1 hour chart we can see that today the Cable is recovering, with oscillators indicating bullish views. Short term signals are ascending, with targets towards 1.6465. Break above this level may lead to further upwards gains. The CCI is in the oversold area and upwards of 1 hour chart, confirming the current upward rebound.

Technical resistance levels: 1.6465 1.6580 1.6700

Technical support levels: 1.6280 1.6170 1.6055

Trading range: 1.6370 - 1.6445

Trend: Upward

Buy at 1.6384 SL 1.6354 TP 1.6434

Already made +32 pips profit on GBP/USD today from the following signal:

7:01 GMT+1 Sell GBP/USD at 1.6411 SL 1.6437 TP 1.6351 exited at 7:06 GMT

Today so far +116, yesterday +161, as shown at www.zifx.com/performance.php