Pound/Dollar made a tentatively movement last week. The Cable attempted to rise, reaching a peak at 1.6554, closing the week lower at 1.6490. The Sterling is currently trading below 1.6450. However, there is a still minor ascending channel on the 1 hour chart. The longer the channel holds, further upward movement may be expected in the near time. Break above 1.6565 may trigger bullish impulse with possible testing of 1.6670. Immediate support is 1.6385, the break of which may take the currency couple further down towards the lower limit of the channel, with possible test of the next support 1.6260. The CCI indicator crossed down the 100 line on the 1 hour chart, signaling for downward pressure.
Technical resistance levels: 1.6565 1.6670 1.6800
Technical support levels: 1.6385 1.6260 1.6135
Trading range: 1.6460 - 1.6385
Sell at 1.6446 SL 1.6476 TP 1.6396
Today we made already +60 pips profit on GBP/USD from the following signal:
5:43 GMT+1 Sell GBP/USD at 1.6492 SL 1.6518 TP 1.6432 TP reached at 7:35 GMT
Today so far +174, on Friday +169, as shown at www.zifx.com/performance.php