GBP/USD 1.3746 - 26 January

GBP/USD Open 1.3610 High 1.3896 Low 1.3547 Close 1.3798

In December Pound/Dollar continued descending and reached new low record since 2002. Last week the Cable continued the downward trend, reaching lowest rates since 1985. On the daily chart the downward pressure increased, but the currency couple did not close under the bottom from 2001, which may lead to a risk of upwards correction. However the descending impulse remains strong, as on the daily chart the Sterling overcame the key support level and formed signals for further decreasing outlook. Strengthening under 1.3540 would signal in favour of further descending of the English currency. Keeping above 1.4000 may provoke drought.

Technical resistance levels: 1.3815 1.3900 1.4005

Technical support levels: 1.3545 1.3400 1.3270

Trading range: 1.3760 - 1.3685

Trend: Downward

Sell at 1.3746 SL 1.3776 TP 1.3696

Today we made already +55 pips profit on GBP/USD from the following signal:

5:58 GMT Sell GBP/USD at 1.3610 SL 1.3636 TP 1.3550 exited at 6:12 GMT

Today so far +140, on Friday +146, as shown at