Pound/Dollar made indecisive movement on Tuesday. The Cable tried to decrease, reaching a bottom at 1.5778, then increasing sharply upwards to 1.5957, and closing the day lower at 1.5928. On the 1 hour chart is seen how the Sterling moves in a rectangle, indicating significant consolidation phase after the increasing momentum. Break upwards of the rectangle at 1.6010 may trigger further upward movement towards 1.6130. The nearest support is 1.5825, followed by 1.5730. The CCI indicator is about to cross over the 100 line on the 1 hour chart, signaling a potential ascending pressures.
Technical resistance levels: 1.6010 1.6130 1.6250
Technical support levels: 1.5825 1.5730 1.5635
Trading range: 1.6015 - 1.5945
Sell at 1.6005 SL 1.6035 TP 1.5955
Today we made already +53 pips profit on GBP/USD from the following signal:
5:47 GMT+1 Sell GBP/USD at 1.5975 SL 1.6001 TP 1.5915 exited at 7:01 GMT
Today so far +145, yesterday +172, as shown at www.zifx.com/performance.php