Pound/Dollar could not continue the downward movement on Thursday. The bearish impulse was limited at the 1.6339 from where the Cable started rising. Today, signals for the Sterling continue to be ascending, and our preferable short term trend scenario is upwards, and still neutral in the medium term. A convincing movement above the first resistance at 1.6575 will confirm the ascending scenario and may trigger further upward impulse towards 1.6700. Immediate support is is yesterday's bottom at 1.6340. Break bellow that level might cause renewal of the bearish trend. The CCI indicator crossed up the 100 line on the 1 hour chart, assuming potential bullish pressure.
Technical resistance levels: 1.6575 1.6700 1.6835
Technical support levels: 1.6340 1.6225 1.6100
Trading range: 1.6515 - 1.6590
Buy at 1.6528 SL 1.6498 TP 1.6578
Already made +35 pips profit on GBP/USD today from the following signal:
5:37 GMT+1 Buy Buy GBP/USD at 1.6539 SL 1.6513 TP 1.6599 exited at 7:17 GMT
Today so far +100, yesterday +134, as shown at www.zifx.com/performance.php