Pound/Dollar attempted to rise on Thursday. The Cable passed up the long term target 1.6570, reached a top at 1,6597, but further upward momentum was limited there, and the Sterling fell to the bottom 1.6380, closing the day at 1.6407. After the unconvincing break down of the upward trend line yesterday, the currency pair tested again the trend line as a support. Immediate support is represented by the 1.6280 level, followed by 1.6160. The nearest resistance is 1.6595. The CCI indicator has just crossed down the 100 line on the 1 and 4 hour charts, suggesting downwards intraday trading.
Technical resistance levels: 1.6595 1.6730 1.6850
Technical support levels: 1.6280 1.6160 1.6025
Trading range: 1.6315 - 1.6390
Buy at 1.6327 SL 1.6297 TP 1.6377
Today we made already +60 pips profit on GBP/USD from the following signal:
5:48 GMT+1 Sell GBP/USD at 1.6456 SL 1.6482 TP 1.6396 TP reached at 8:01 GMT
Today so far +158, yesterday +175, as shown at www.zifx.com/performance.php