Pound/Dollar made a moderate decreasing movement on Friday. On the 1 hour chart there is an descending triangle formation, suggesting a potential bullish impulse for the Cable, especially if the formation is penetrated upwards. Short term signals are ascending, but remain neutral in the medium term. Immediate support is this morning's bottom at 1.6380. Convincing break bellow this level may trigger further bearish momentum with possible test of 1.6265. The nearest resistance is Friday's top at 1.6535, followed by 1.6600. The CCI indicator has crossed up the 100 line on the 1 hour chart, indicating rising upward pressure.
Technical resistance levels: 1.6535 1.6665 1.6800
Technical support levels: 1.6380 1.6265 1.6150
Trading range: 1.6425 - 1.6500
Buy at 1.6439 SL 1.6409 TP 1.6489
Yesterday made already +40 pips profit on GBP/USD from the following signal:
6:58 GMT+1 Buy GBP/USD at 1.6475 SL 1.6449 TP 1.6535 exited at 7:56 GMT
Today so far +92, on Friday +126, as shown at www.zifx.com/performance.php