GBP/USD 1.6075 - 5 June

GBP/USD Open 1.6109 High 1.6426 Low 1.6021 Close 1.6175

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

Trend: Downward

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