GBP/USD 1.4876 - 21 June 2010

GBP/USD Open 1.4837 High 1.4932 Low 1.4773 Close 1.4817

After the deep correction last Thursday, on Friday Pound/Dollar recovered partially, in converse with negative Interbank sentiment at around -25%. The Cable appreciated to 1.4883 on Friday, than dropped down to 1.4773, closing the week at 1.4817. Today the pair shows further strength, with an adequate upward momentum. First resistance is today's top at 1.4932. Break above it should extend the bullish movement further towards 1.5050. The nearest support is Friday's bottom at 1.4773. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.4649. There are no major economic events for UK today. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and consolidating, MACD is positive and calm, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.Technical resistance levels: 1.4932 1.5050 1.5288Technical support levels: 1.4773 1.4649 1.4549

Trading range: 1.4865 - 1.4940Trend: UpwardBuy at 1.4876 SL 1.4846 TP 1.4926

Already made +57 pips profit on GBP/USD today from the following signal:5:32 GMT+1 Buy GBP/USD at 1.4897 SL 1.4853 TP 1.4939 exit at 7:00 GMT+1.Today so far +148, on Friday +155, as shown in details at