GBP/USD 1.6365 - 20 April 2011

GBP/USD Open 1.6320 High 1.6358 Low 1.6227 Close 1.6312

On Tuesday Pound/Dollar increased with with 110 pips, in converse with the negative Interbank sentiment at under -2%. The Cable appreciated from 1.6227 to 1.6338 yesterday, closing the day at 1.6312. Today the British Pound extended its rise up to 1.6383. On the 1 hour chart the upward channel is on hold, while on the 3 hour chart quotes are moving within wide range. First resistance is today's peak at 1.6383. Break above it should extend the bullish movement further towards the 1.6500. The nearest support is yesterday's bottom at 1.6227. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6100. Today are UK BoE meeting minutes. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and rising, MACD is positive and inclining upwards too, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 1.6383 1.6500 1.6643
Technical support levels: 1.6227 1.6100 1.5963

Trading range: 1.6355 - 1.6425
Trend: Upward
Buy at 1.6365 SL 1.6335 TP 1.6415

Already made +39 pips profit on GBP/USD today from the following signal:
5:30 GMT+1 Buy GBP/USD at 1.6344 SL 1.6318 TP 1.6404, exit sent at 8:21 GMT+1.
Today so far +117, yesterday +76, as shown in details at