Pound/Dollar continued its downward correction yesterday. The Cable made a bottom at 1.6084 and closed the day at 1.6175. The currency pair still continues to descend around 1.6030. Currently, the signals are decreasing, but remain bullish in the medium term. Immediate support is represented by the 1.6020 level. Break under it may trigger further decreasing momentum towards next target 1.5910. The CCI indicator is about to cross down the 100 line on the 1 and 4 hour chart, suggesting potential downward pressure.
Technical resistance levels: 1.6500 1.6770 1.6900
Technical support levels: 1.6020 1.5910 1.5780
Trading range: 1.6085 - 1.6015
Sell at 1.6075 SL 1.6105 TP 1.6025
Today we made already +60 pips profit on GBP/USD from the following signal:
5:46 GMT+1 Sell GBP/USD at 1.6126 SL 1.6152 TP 1.6066 TP reached at 6:50 GMT
Today so far +123, yesterday +103, as shown at www.zifx.com/performance.php