GBP/USD 1.4963 - 4 May

GBP/USD Open 1.4935 High 1.4978 Low 1.4760 Close 1.4918

In March, the Pound/Dollar consolidated, forming divergence. Last week the Cable rose with over 400 pips, but the key resistance at 1.4933 could not be overcome and the British currency made a partial correction downwards on 30 April. On the weekly chart the Sterling formed divergence, and then tried to rise. On the daily chart the currency couple continued consolidation within a wide range, the upper limit of which is located in the region of 1.4980. While consolidation over 1.4950 is not stable, the risk of decline of the British currency is maintained. Strengthening under 1.4700 will signal for reduction. Holding above 1.4930 may provoke an increase with objectives towards 1.5000.

Technical resistance levels: 1.4980 1.5100 1.5220

Technical support levels: 1.4855 1.4695 1.4565

Trading range: 1.4975 - 1.4910

Trend: Downward

Sell at 1.4963 SL 1.4993 TP 1.4923

Today we made already +51 pips profit on GBP/USD from the following signal:

7:02 GMT+1 Buy GBP/USD at 1.4917 SL 1.4891 TP 1.4977 exited at 8:21 GMT

Today so far +114, on Friday +184, as shown at