After 2 days of indecisive movement Pound/Dollar yesterday showed an increasing momentum. On the 4 hour chart after the breaking out the top triangle formation, the Cable reached a top at 1.4809 and closed the day at 1.4769. Signals remain rising for the time being, and quotes may test again the upper trend line. Short term support is seen to 1.4695. Break below this level may cause further bearish movement towards 1.4590 and 1.4500. Immediate resistance is at 1.4930. The CCI indicator is in the overbought zone and downwards of the 4 hour chart, indicating potential descending pressure.
Technical resistance levels: 1.4930 1.5015 1.5150
Technical support levels: 1.4695 1.4570 1.4445
Trading range: 1.4885 - 1.4960
Buy at 1.4896 SL 1.4866 TP 1.4946
Today we made already +60 pips profit on GBP/USD from the following signal:
5:45 GMT+1 Buy GBP/USD at 1.4793 SL 1.4767 TP 1.4853 TP reached at 7:43 GMT
Today so far +174, yesterday +111, as shown at www.zifx.com/performance.php