Pound/Dollar overcome the lowest levels since 2001 in January, reaching a minimum value at 1.1986, but strengthening under the bottom from 2001 could not be achieved, and the currency couple closed the month unchanged. Last week the Cable made abrupt adjustment, recovering the majority of its losses in the first half of January. On the weekly chart a divergence is formed, that bears correctional growth risk for the British currency, while decreasing pressure is maintained till the Pound remains under 1.4900. On the daily chart the currency couple formed convergence, then corrected. Now further risk of correction continuation towards the region of 1.4750 and then to 1.4960 exists. Strengthening under 1.4240 will signal for further fall. Going above above 1.4600 may provoke rise of the Pound.
Technical resistance levels: 1.4400 1.4510 1.4625
Technical support levels: 1.4185 1.4060 1.3890
Trading range: 1.4295 - 1.4220
Sell at 1.4281 SL 1.4311 TP 1.4231
Today we made already +60 pips profit on GBP/USD from the following signal:
5:49 GMT Sell GBP/USD at 1.4418 SL 1.4444 TP 1.4358 TP reached at 6:51 GMT
Today so far +160, on Friday +137, as shown at www.zifx.com/performance.php