On Wednesday Pound/Dollar fell sharply. The currency couple made a bottom at 1.4172 and closed at 1.4202. The triangle formation of 4 hour chart was penetrated downwards, assuming bearish momentum. The CCI indicator, however, just went up the 100 line on the 1 hour chart, which is a signal for potential upward return, as the market also seems to always rejected any movement under 1.4070 - 1.4110 this month. This makes the current situation quite risky to trade.
Technical resistance levels: 1.4660 1.4785 1.4900
Technical support levels: 1.4365 1.4250 1.4155
Trading range: 1.4275 - 1.4200
Sell at 1.4262 SL 1.4292 TP 1.4212
Today we made already +60 pips profit on GBP/USD from the following signal:
5:46 GMT Sell GBP/USD at 1.4238 SL 1.4264 TP 1.4178 TP reached at 7:40 GMT
Today so far +150, yesterday +153, as shown at www.zifx.com/performance.php