GBP/USD 1.6357 - 27 October 2009
As US stocks slid on Monday the Pound was seriously harmed like the other majors. The pair reached the 1.6254 bottom yesterday, closing the day at 1.6305. On the 3 hour chart quotes are moving within the 1.5754 - 1.6708 range, and we look for a break of either limits to get clearer picture for trend direction. The nearest resistance is yesterday's top at 1.6394, the break of whish may strengthen the Cable further toward next objective 1.6530. Immediate support is yesterday's bottom at 1.6255. CCI has crossed up the 100 line on the 1 hour chart, suggesting bullish pressure.
Technical resistance levels: 1.6395 1.6530 1.6670
Technical support levels: 1.6255 1.6120 1.6000
Buy at 1.6357 SL 1.6327 TP 1.6407
Already made +27 pips profit on GBP/USD today from the following signal:
7:12 GMT+1 Buy GBP/USD at 1.6351 SL 1.6325 TP 1.6411 exited at 7:37 GMT
Today so far +116, yesterday +113, as shown in details at http://www.zifx.com/performance.php.