GBP/USD 1.6395 - 29 July

GBP/USD Open 1.6404 High 1.6555 Low 1.6353 Close 1.6428

Pound/Dollar climbed on Tuesday to the 1.6555 top, from where it started descending down to 1.6395, closing the day at 1.6395. On the 1 hour chart the ascending triangle formation was broken downwards, suggesting decreasing perspectives in the short term, while medium term views remains neutral. A key support is today's bottom, the 1.6350 level. Break below this level may trigger further bearish momentum towards next objective 1.6240. Immediate resistance is represented by yesterday's top at 1.6555. Break above this area might lead to stronger ascending impetus. The CCI indicator crossed down the 100 line on the 1 hour chart, assuming potential decreasing perspectives.

Technical resistance levels: 1.6555 1.6665 1.6800

Technical support levels: 1.6350 1.6225 1.6100

Trading range: 1.6405 - 1.6335

Trend: Downward

Sell at 1.6395 SL 1.6425 TP 1.6345

Yesterday made already +60 pips profit on GBP/USD from the following signal:

5:45 GMT+1 Sell GBP/USD at 1.6445 SL 1.6471 TP 1.6385 TP reached at 7:19 GMT

Today so far +158, yesterday +158, as shown at