Pound/Dollar attempted to descend on Thursday, reaching a bottom at 1.6236, but closing higher the day at 1.6369. On the 1 hour chart we can see that the Cable is trading within a rectangle formation, indicating consolidation phase. Movement direction is unclear for now, till further developments occur. Immediate resistance is represented by the 1.6500 level. The nearest support is 1.6360. The CCI indicator is in neutral zone on the 1 and 4 hour charts, indicating calm trading.
Technical resistance levels: 1.6500 1.6630 1.6750
Technical support levels: 1.6360 1.6235 1.6125
Trading range: 1.6495 - 1.6420
Sell at 1.6483 SL 1.6513 TP 1.6433
Today we made already +52 pips profit on GBP/USD from the following signal:
5:40 GMT+1 Sell GBP/USD at 1.6456 SL 1.6482 TP 1.6396 exited at 6:38 GMT
Today so far +104, yesterday +158, as shown at www.zifx.com/performance.php