GBP/USD 1.6133 - 31 March 2011

GBP/USD Open 1.6067 High 1.6152 Low 1.5977 Close 1.6068

On Wednesday Pound/Dollar continued the started on Tuesday recovery, rising up with over 100 pips, in line with the positive Interbank sentiment at over +2%. The Cable appreciated from 1.5977 to 1.6084 yesterday, closing the day at 1.6068. Today the British Pound climbed further up, reaching 1.6152. On the 1 hour chart quotes returned to the trading range, while on the 3 hour chart trading is still within wide range. First resistance is today's peak at 1.6152. Break above it should extend the bullish movement further towards the 1.6270. The nearest support is yesterday's bottom at 1.5977. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5850. Today was the UK Nationwide house price index at 6 GMT. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and calm, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 1.6152 1.6270 1.6400
Technical support levels: 1.5977 1.5850 1.5623

Trading range: 1.6120 - 1.6195
Trend: Upward
Buy at 1.6133 SL 1.6103 TP 1.6183

Already made +60 pips profit on GBP/USD today from the following signal:
5:29 GMT+1 Buy GBP/USD at 1.6091 SL 1.6065 TP 1.6151, TP reached at 8:31 GMT+1.
Today so far +124, yesterday +106, as shown in details at