GBP/USD 1.5962 - 23 December 2009
Pound/Dollar continued bearish movement on Tuesday from the 1.6095 top, reaching a bottom at 1.5926, and and closing the day at 1.5962, remaining consistently above the important 1.5926 support level for now. The bearish signals are expected to remain intact for the time being, but we will look for a convincing break bellow 1.5926 to confirm the downward outlooks, with next objectives towards 1.5825. Immediate resistance is represented by yesterday's top at 1.6095. Break above this level might lead to partial Cable recovery, but any upward movements should be regarded as correctional at this stage. The CCI indicator is neutral and leaning downwards on the 1 hour chart, suggesting slight bearish pressure.
Technical resistance levels: 1.6095 1.6164 1.6235
Technical support levels: 1.5926 1.5825 1.5733
Already made +29 pips profit on GBP/USD today from the following signal:
5:38 GMT Sell GBP/USD at 1.5965 SL 1.5991 TP 1.5905 exited at 8:40 GMT
Today so far +69, yesterday +122, as shown in details at www.zifx.com/performance.php.