On Monday Pound/Dollar decreased from 1.6546 to 1.6391, closing the day at 1.6412. On the 1 hour chart there is a downward channel formed, indicating downward gathered momentum. Short term signals are expected to remain bearish with targets towards 1.6270. The nearest resistance is 1.6435, the break of which may trigger upward impulse towards Monday's top 1.6546. Immediate support is today's bottom at 1.6340. The CCI indicator has crossed down the 100 line on the 1 hour chart, showing further potential descending pressure.
Technical resistance levels: 1.6435 1.6550 1.6645
Technical support levels: 1.6340 1.6220 1.6100
Trading range: 1.6485 - 1.6415
Sell at 1.6475 SL 1.6505 TP 1.6425
Already made +60 pips profit on GBP/USD today from the following signal:
5:40 GMT+1 Sell GBP/USD at 1.6421 SL 1.6447 TP 1.6361 TP reached at 8:01 GMT
Today so far +170, yesterday +129, as shown at www.zifx.com/performance.php