Pound/Dollar continued the descending scenario yesterday after the upward correction on Tuesday. On the 4 hour chart the battle between buyers and sellers around the trend and resistance line was won by the sellers. Signals are decreasing in the short term with possible test of the 1.4400 support level, but remain neutral in the medium term. Immediate resistance is represented by today's top 1.4600. Break above this level may trigger further increasing momentum. The CCI indicator has just crossed up the 100 line on the 1 hour chart, suggesting potential increasing movement.
Technical resistance levels: 1.4740 1.4825 1.4960
Technical support levels: 1.4540 1.4430 1.4400
Trading range: 1.4535 - 1.4600
Buy at 1.4549 SL 1.4519 TP 1.4589
Today we made already +50 pips profit on GBP/USD from the following signal:
6:34 GMT+1 Sell GBP/USD at 1.4656 SL 1.4682 TP 1.4596 exited at 8:15 GMT
Today so far +106, yesterday +170, as shown at www.zifx.com/performance.php