GBP/USD 1.4552 - 23 February

GBP/USD Open 1.4368 High 1.4595 Low 1.4153 Close 1.4423

In February Pound/Dollar continued the consolidation after failing to develop growth above 1.4900. Last week the currency couple was unable to develop targeted traffic and mostly consolidated. On the weekly chart a divergence is formed, that bears correctional growth risk of the Cable, while decreasing pressure is maintained till the Pound remains under 1.4900. On the daily chart the British currency prevailed decreasing trend line, and after testing it, it attempted to resume growth. Strengthening under 1.4260 will signal for reducing of the GBP/USD. Strengthening above 1.4600 may provoke a rise of Sterling. If this week we have no a significant market catalyst, it is expected the price to continue to trade between the Fibonacci levels of 1.4075 and 1.4635 (61.6% and 23.4%).

Technical resistance levels: 1.4600 1.4735 1.4880

Technical support levels: 1.4365 1.4250 1.4155

Trading range: 1.4565 - 1.4490

Trend: Downward

Sell at 1.4552 SL 1.4582 TP 1.4502

Today we made already +60 pips profit on GBP/USD from the following signal:

5:46 GMT Buy GBP/USD at 1.4502 SL 1.4476 TP 1.4562 TP reached at 7:01 GMT

Today so far +149, on Friday +148, as shown at