GBP/USD 1.6039 - 29 May

GBP/USD Open 1.5958 High 1.6084 Low 1.5855 Close 1.5941

Pound/Dollar traded indecisively yesterday. On the daily chart is seen how the Cable shows no clear direction for the last 4 days. On the weekly chart a divergence is formed during this week. Medium term prospects remain upward. Key resistance level is represented by yesterday's top 1.6085. Consistent movement above this level may lead to further bullish momentum towards next target 1.6200. The nearest support is 1.5855, followed by 1.5745. The CCI indicator is about to cross down the 100 line on the daily chart, suggesting a potential descending pressure.

Technical resistance levels: 1.6085 1.6200 1.6320

Technical support levels: 1.5855 1.5745 1.5600

Trading range: 1.6025 - 1.6100

Trend: Upward

Buy at 1.6039 SL 1.6009 TP 1.6089

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

5:49 GMT+1 Buy GBP/USD at 1.5978 SL 1.5952 TP 1.6038 TP reached at 7:18 GMT

Today so far +116, yesterday +161, as shown at