The formed hammer on the daily chart give us a valid warning for potential ascending reversal of the Pound/Dollar yesterday. Cable corrected upwards, reaching a peak at 1.3993, and closing at 1.3992. The currency couple made more than 500 pips movement, reaching 1.4190 during the Asian session, supported by general financial gains in UK and optimistic news for Barclays Bank. Signals remain upward, with targets towards the region of 1.4220, but the basic decreasing scenario remains valid. The CCI indicator broke down the 100 line on the 1 hour chart, indicating the potential downward pressure towards testing of the support levels of 1.3935 and 1.3810.
Technical resistance levels: 1.3815 1.3900 1.4005
Technical support levels: 1.3545 1.3400 1.3270
Trading range: 1.4145 - 1.4220
Buy at 1.4157 SL 1.4127 TP 1.4207
Today we made already +60 pips profit on GBP/USD from the following signal:
5:50 GMT Buy GBP/USD at 1.4058 SL 1.4032 TP 1.4118 TP reached at 7:21 GMT
Today so far +153, yesterday +140, as shown at www.zifx.com/performance.php