GBP/USD 1.6151 - 2 September 2009
GBP/USD Open 1.6158 High 1.6372 Low 1.6184 Close 1.6157

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

Trading range: 1.6165 - 1.6090

Trend: Downward

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

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