GBP/USD 1.5578 - 20 August 2010

GBP/USD Open 1.5575 High 1.5667 Low 1.5507 Close 1.5598

On Thursday Pound/Dollar increased, after initial descend, in line with the positive Interbank sentiment at nearly +18%, and continuing trading within range this whole week. The Cable appreciated from 1.5507 to 1.5667 yesterday, closing the day at 1.5598. Today trading is calm for now. On the 1 hour chart range trading is formed, while on the 3 hour chart the upward channel was broken downwards. First resistance is yesterday's peak at 1.5667. Break above it should extend the bullish movement further towards 1.5790. The nearest support is yesterday's bottom at 1.5507. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5400. There are no major economic events for UK today. Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and inclining upwards, MACD is negative and calm, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.5683 1.5790 1.5900
Technical support levels: 1.5503 1.5400 1.5281

Already made +33 pips profit on GBP/USD today from the following signal:
5:32 GMT+1 Sell GBP/USD at 1.5574 SL 1.5600 TP 1.5514 exit sent at 7:16 GMT+1.
Today so far +92, yesterday +151, as shown in details at