GBP/USD 1.6499 - 23 July

GBP/USD Open 1.6455 High 1.6524 Low 1.6311 Close 1.6482

Pound/Dollar traded moderately yesterday, forming descending wedge on the 5 minute chart. The Cable attempted to descend, reaching a bottom at 1.6311, but further downward views were limited there, and it closed at 1.6482. We are still expecting convincing break out of the current trading range on the 1 hour chart 1.5997 - 1.6550 for clear movement direction. Immediate resistance for the Sterling is Monday's top at 1.6555, followed by 1.6680. First support is is represented by yesterday's bottom at 1.6310 followed by 1.6195. The CCI indicator has crossed up the 100 line on the 1 hour chart, signaling for bullish perspectives.

Technical resistance levels: 1.6555 1.6680 1.6800

Technical support levels: 1.6310 1.6195 1.6070

Trading range: 1.6485 - 1.6560

Trend: Upward

Buy at 1.6499 SL 1.6469 TP 1.6549

Yesterday made already +37 pips profit on GBP/USD from the following signal:

7:07 GMT+1 Sell GBP/USD at 1.6518 SL 1.6544 TP 1.6458 exited at 7:38 GMT

Today so far +89, yesterday +132, as shown at www.zifx.com/performance.php