GBP/USD 1.6384 - 28 October 2009

GBP/USD Open 1.6402 High 1.6438 Low 1.6287 Close 1.6374

On Tuesday Pound/Dollar climbed to the 1.6438 top, forming convergence on the 3 hour chart. From that point the Cable started descending down to the 1.6315 bottom, closing the day at 1.6374. Our preferable scenario today is downwards from the good resistance level and upper limit of the downward channel at 1.6438. If the nearest support, located at the Monday's bottom at 1.6285 is broken down, decreasing may continue further down towards next objective 1.6150. CCI is neutral on the 1 hour chart, suggesting calm movements.
Technical resistance levels: 1.6440 1.6565 1.6700
Technical support levels: 1.6285 1.6150 1.6010

Trading range: 1.6395 - 1.6320
Trend: Downward
Sell at 1.6384 SL 1.6414 TP 1.6334

Already made +16 pips profit on GBP/USD today from the following signal:
5:41 GMT+1 Sell GBP/USD at 1.6360 SL 1.6386 TP 1.6300 exited at 8:03 GMT
Today so far +83, yesterday +116, as shown in details at www.zifx.com/performance.php.

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