Pound/Dollar made a rising effort on Tuesday, but the strong resistance at 1.6370 limited the upward impulse, and the Cable started dropping sharply down to 1.6118, forming downward triangle, and closing the day at 1.6157. Oscillators indicate that the Sterling is in oversold zone, which may lead to a slight upward adjustment to today's top 1.6200 and then continue to decline within the downward channel, formed on the 1 hour chart. The CCI indicator is about to cross down the 100 line on the 1 hour chart, suggesting accumulated bearish pressure.
Technical resistance levels: 1.6375 1.6500 1.6650
Technical support levels: 1.6185 1.6070 1.5940
Sell at 1.6151 SL 1.6181 TP 1.6101
Already made +60 pips profit on GBP/USD today from the following signal:
7:15 GMT+1 Sell GBP/USD at 1.6194 SL 1.6220 TP 1.6134 TP reached at 8:26 GMT
Today so far +158, yesterday +110, as shown at www.zifx.com/performance.php