GBP/USD 1.5492 - 27 July 2010

GBP/USD Open 1.5487 High 1.5519 Low 1.5400 Close 1.5488

On Monday Pound/Dollar continued rising, in line with the positive Interbank sentiment at nearly +13%. The Cable appreciated from 1.5400 to 1.5513 yesterday, closing the day at 1.5488. Today the pair extended its climb higher to 1.5519. On the 1 hour chart the upward channel has renewed, while on the 3 hour chart the upward channel is intact. First resistance is today's peak at 1.5519. Break above it should extend the bullish movement further towards 1.5621. The nearest support is yesterday's bottom at 1.5400. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5259. There are no major economic events for UK today. Quotes are moving bellow the 20 and above 50 EMA on the 1 hour chart, indicating short term bearish and medium term bullish pressure. The value of the RSI indicator is negative and declining, MACD is positive and calm, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.Technical resistance levels: 1.5519 1.5621 1.5750Technical support levels: 1.5400 1.5259 1.5151

Trading range: 1.5505 - 1.5430Trend: DownwardSell at 1.5492 SL 1.5522 TP 1.5442

Already made +43 pips profit on GBP/USD today from the following signal:5:33 GMT+1 Buy GBP/USD at 1.5486 SL 1.5460 TP 1.5546 exit sent 7:25 GMT+1.Today so far +92, yesterday +158, as shown in details at