Pound/Dollar made a significant downward movement on Monday with over 300 pips. The Cable reached a bottom of 1.6100 and close the day at 1.6284. Break down of the above bottom and current support level may trigger further decreasing pressure with possible test of the 1.5980 level. Immediate resistance is this morning's top at 1.6300, followed by 1.6435. The CCI indicator is about to cross down the 100 line on the 1 hour chart, signaling for potential downwards pressure.
Technical resistance levels: 1.6300 1.6435 1.6550
Technical support levels: 1.6100 1.5980 1.5855
Trading range: 1.6215 - 1.6140
Sell at 1.6203 SL 1.6233 TP 1.6153
Yesterday made already +60 pips profit on GBP/USD from the following signal:
5:43 GMT+1 Sell GBP/USD at 1.6285 SL 1.6311 TP 1.6225 TP reached at 6:57 GMT
Today so far +173, yesterday +202, as shown at www.zifx.com/performance.php