GBP/USD 1.5521 - 30 August 2010

GBP/USD Open 1.5530 High 1.5559 Low 1.5455 Close 1.5524

On Friday Pound/Dollar moved down and up, in converse with the positive Interbank sentiment at nearly +20%. The Cable depreciated from 1.5534 to 1.5455 on Friday, closing the week at 1.5524. Today the British currency is moving hesitantly so far. On the 1 hour chart the downward channel has slowed down, while on the 3 hour chart the new downward channel is on hold. First resistance is today's peak at 1.5559. Break above it should extend the bullish movement further towards 1.5694. The nearest support is Friday's bottom at 1.5455. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5370. Today is UK Summer Bank Holiday. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and declining, MACD is neutral and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.5559 1.5694 1.5828
Technical support levels: 1.5455 1.5370 1.5256

Trading range: 1.5510 - 1.5585
Trend: Upward
Buy at 1.5521 SL 1.5491 TP 1.5571

Already made +31 pips profit on GBP/USD today from the following signal:
7:18 GMT+1 Sell GBP/USD at 1.5550 SL 1.5576 TP 1.5490 exit sent at 8:06 GMT+1.
Today so far +96, on Friday +81, as shown in details at