Pound/Dollar was trading mostly downwards on Friday. The Cable started descending from 1.6420 down to 1.6275, closing the week at 1.6330. The Sterling could not break convincingly the 1.6275 support level, and today showed strong recovering impulse. On the 1 hour chart there is a formed descending sward, technically meaning an upwards reversal of the trend. Signals are bullish in the short term, and neutral in the medium term. Immediate support is 1.6300, followed by 1.6180. The CCI indicator has crossed up the 100 line on the 1 hour chart, suggesting further potential ascending views.
Technical resistance levels: 1.6475 1.6600 1.6750
Technical support levels: 1.6305 1.6195 1.6070
Trading range: 1.6460 - 1.6535
Buy at 1.6474 SL 1.6444 TP 1.6524
Yesterday made already +60 pips profit on GBP/USD from the following signal:
5:37 GMT+1 Buy GBP/USD at 1.6391 SL 1.6365 TP 1.6451 TP reached at 8:18 GMT
Today so far +170, on Friday +93, as shown at www.zifx.com/performance.php