GBP/USD 1.5904 - 2 October
On Thursday Pound/Dollar traded with volatility. The Cable went over 1.6000, reaching a peak at 1.6023, from where it started declining, closing the day at 1.5952. The Sterling seems to have lost partly the upward momentum and is currently vulnerable to the accumulated downward pressure. We expect trading to maintain within the 1.5788 - 1.6115 ranges. Break down of the 1.5785 level may trigger further weakening of the British currency, while the break above 1.6115 should resume the ascending outlook with targets towards 1.6300. The CCI indicator has crossed down the 100 line on the 1 hour chart, suggesting downward prospects.
Technical resistance levels: 1.6025 1.6150 1.6280
Technical support levels: 1.5865 1.5750 1.5620
6:53 GMT+1 Sell GBP/USD at 1.5949 SL 1.5975 TP 1.5889 TP reached at 8:07 GMT
Today so far +131, yesterday +135, as shown at www.zifx.com/performance.php
Sell at 1.5904 SL 1.5934 TP 1.5854