Pound/Dollar made an upward movement on Monday, reaching a peak at 1.6554, closing the day at 1.6544. Today the Cable is correcting downward and currently short term signals are descending with possible test of the nearest support level and bottom from Monday 1.6327. However, the longer the Sterling is moving within the above high and low level, midium term views are neutral. Immediate resistance is monday's top 1.6555. Break above this level may lead to further increasing momentum with possible test of 1.6680. The CCI indicator has just crossed down the 100 line on the 1 hour chart, suggesting potential bearish prospects.
Technical resistance levels: 1.4240 1.4350 1.4465
Technical support levels: 1.4110 1.4000 1.3875
Trading range: 1.4230 - 1.4165
Sell at 1.4216 SL 1.4246 TP 1.4176
Yesterday we made +35 pips profit on EUR/USD from the following signal:
7:07 GMT+1 Sell GBP/USD at 1.6494 SL 1.6520 TP 1.6434 TP reached at 8:51 GMT
Today so far +104, yesterday +174, as shown at www.zifx.com/performance.php