Pound/Dollar failed to break the resistance of 1.4500 today, where it meets major difficulties in drilling the level. Current indicators show a consolidation, and the currency pair is expected to reach 1.4380 before climbing back up to 1.4590 in an attempt to re test the above resistance. Trading range today is 1.4263 - 1.4976. The major trend is still descending till 1.5200 remains untouched with targets 1.4240 and 1.4050. Shortly for UK the final Q4 GDP will be announced. Preliminary figures were -1.5% to -1.9% on quarterly and annual bases respectively. With it will also be disclosed Current account for the Q4. It is expected that the deficit on it to shrink to 5.8 billion GBP compared to with 7.7 billion GBP for the previous period.
Technical resistance levels: 1.4500 1.4655 1.4770
Technical support levels: 1.4380 1.4265 1.4130
Trading range: 1.4460 - 1.4390
Sell at 1.4450 SL 1.4480 TP 1.4400
Today we made already +60 pips profit on GBP/USD from the following signal:
5:46 GMT Sell GBP/USD at 1.4494 SL 1.4520 TP 1.4434 TP reached at 6:32 GMT
Today so far +175, yesterday +143, as shown at www.zifx.com/performance.php