Pound/Dollar continued the upward momentum yesterday. The Cable reached the long term target 1.6400, made a top at 1.6497, and closed the day at 1.6442. On the 4 hour chart there is a valid bullish channel, signaling for possible ascending scenario. Signals remain rising for now, with targets towards 1.6550, followed by 1.6665. The nearest support is 1.6350, followed by 1.6240. The CCI indicator is in the overbought zone and downwards on the 4 hour chart, assuming potential insignificant downward correction.
Technical resistance levels: 1.6500 1.6665 1.6800
Technical support levels: 1.6350 1.6240 1.6160
Trading range: 1.6350 - 1.6425
Buy at 1.6361 SL 1.6331 TP 1.6411
Today we made already +25 pips profit on GBP/USD from the following signal:
5:40 GMT+1 Buy GBP/USD at 1.6437 SL 1.6411 TP 1.6497 exited at 5:52 GMT
Today so far +76, yesterday +142, as shown at www.zifx.com/performance.php