GBP/USD 1.5860 - 26 May

GBP/USD Open 1.5900 High 1.5943 Low 1.5837 Close 1.5908

The upward momentum of the Pound/Dollar also stopped on Monday as expected. On the 1 hour chart the formed ascending wedge was penetrated downwards, indicating potential downward correction. Immediate support is at 1.5790, the break of which may lead to further correctional scenario towards 1.5675. The nearest resistance is yesterday's top 1.5945. Break above this level may lead to further increasing momentum towards the region of 1.6060. The CCI indicator is in the overbought zone and downwards on the daily chart, signaling for potential downward pressure.

Technical resistance levels: 1.5940 1.6055 1.6150

Technical support levels: 1.5830 1.5720 1.5635

Trading range: 1.5870 - 1.5810

Trend: Downward

Sell at 1.5860 SL 1.5890 TP 1.5820

Today we made already +60 pips profit on GBP/USD from the following signal:

6:57 GMT+1 Sell GBP/USD at 1.5932 SL 1.5958 TP 1.5872 TP reached at 7:41 GMT

Today so far +172, yesterday +128, as shown at www.zifx.com/performance.php