On Thursday Pound/Dollar attempted rising, reaching a peak of 1.6605, where further increasing momentum was limited, the Cable dropped down to the bottom 1.6446, closing the day at 1.6504. On the 1 hour chart The Sterling is still moving within the bearish channel. There is a triangular formation on the 1 hour chart, indicating consolidation phase. Break out of the triangle may give us a clearer movement direction. The nearest resistance is yesterday's top at 1.6605. Break above it may trigger further bullish impulse with targets towards 1.6710. Immediate support is Wednesday's bottom 1.6375. The CCI indicator has crossed up the 100 line on the 1 hour hour chart, indicating bullish pressure.
Technical resistance levels: 1.6605 1.6710 1.6845
Technical support levels: 1.6375 1.6260 1.6135
Trading range: 1.6455 - 1.6525
Buy at 1.6465 SL 1.6435 TP 1.6515
Already made +33 pips profit on GBP/USD today from the following signal:
5:38 GMT+1 Sell GBP/USD at 1.6451 SL 1.6477 TP 1.6391 exited at 6:09 GMT
Today so far +114, yesterday +130, as shown at www.zifx.com/performance.php