GBP/USD 1.6680 - 28 April 2011

GBP/USD Open 1.6627 High 1.6748 Low 1.6433 Close 1.6624

On Wednesday Pound/Dollar resumed increasing with just over 200 pips, not exactly in line with the neutral Interbank sentiment at under +1%. The Cable appreciated from 1.6433 to 1.6638 yesterday, closing the day at 1.6624. Today the British Pound strengthened further, climbing up to 1.6748. On the 1 hour chart the upward channel has renewed, while on the 3 hour chart new upward channel has emerged. First resistance is today's peak at 1.6748. Break above it should extend the bullish movement further towards the 1.6871, before the psychological 1.7. The nearest support is yesterday's bottom at 1.6433. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6306. Today is UK Gfk consumer confidence at 23 GMT. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish impulse. The value of the RSI indicator is positive and declining, MACD is positive and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.6748 1.6871 1.7000
Technical support levels: 1.6433 1.6306 1.6182

Trading range: 1.6670 - 1.6740
Trend: Upward
Buy at 1.6680 SL 1.6650 TP 1.6730

Already made +18 pips profit on GBP/USD today from the following signal:
7:49 GMT+1 Buy GBP/USD at 1.6695 SL 1.6669 TP 1.6755, exit sent at 8:00 GMT+1.
Today so far +91, yesterday +71, as shown in details at