In March, Pound/Dollar consolidated. Last week the Cable sharply increased and broke descending trend line. On the weekly chart the British currency formed a divergence. Strengthening above 1.4950 carries a risk of further recovery of the Sterling. For now the Pound manages to remain above the minimum from 2001. On the daily chart pressure on the currency couple lowered, and the Cable continued consolidating within a wide range, with upper limit around 1.5025. Strengthening below 1.4750 will signal for reduction. Holding above 1.4950 may provoke an increase with objectives towards 1.5050.
Technical resistance levels: 1.4950 1.5050 1.5200
Technical support levels: 1.4750 1.4620 1.4480
Trading range: 1.4880 - 1.4955
Buy at 1.4894 SL 1.4864 TP 1.4944
Today we made already +60 pips profit on GBP/USD from the following signal:
7:05 GMT Buy GBP/USD at 1.4887 SL 1.4861 TP 1.4947 TP reached at 7:46 GMT
Today so far +142, on Friday +136, as shown at www.zifx.com/performance.php