Yesterday Pound/Dollar had an increasing momentum. The currency couple made top at 1.4240, but closed lower at 1.4128. We still have ascending channel on the 1 hour chart, and a rectangular formation in the same time, which suggests consolidation phase for the Cable. Break out of the rectangle will give us a clearer movement direction. Successful break of the upper limit of the range should lead to an increase towards the region of 1.4390. Short term signals are neutral, but the upward correction scenario is still intact. The CCI indicator is located in overbought zone and downwards on the 4 hour chart, signaling for a potential decreasing pressure.
Technical resistance levels: 1.3815 1.3900 1.4005
Technical support levels: 1.3545 1.3400 1.3270
Trading range: 1.4265 - 1.4340
Buy at 1.4279 SL 1.4249 TP 1.4329
Today we made already +39 pips profit on GBP/USD from the following signal:
5:51 GMT Buy GBP/USD at 1.4244 SL 1.4218 TP 1.4304 exited at 7:09 GMT
Today so far +151, yesterday +153, as shown at www.zifx.com/performance.php