GBP/USD 1.4441 - 7 June 2010

GBP/USD Open 1.4418 High 1.4678 Low 1.4387 Close 1.4449

On Friday Pound/Dollar followed the Euro sharply downwards, in line with negative Interbank sentiment at nearly -29%. The Cable depreciated from 1.4678 to 1.4453, closing the week at 1.4449. Today decreasing extended down to 1.4387. First resistance is today's top at 1.4461. Break above it should extend the bullish movement further towards 1.4577. The nearest support is today's bottom at 1.4387. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.4300. There are no major economic events for UK today. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish market. The value of the RSI indicator is negative and inclining upwards, MACD is negative and calm, while CCI has crossed down the 100 line on the 1 hour chart, giving overall bearish signals.Technical resistance levels: 1.4461 1.4577 1.4678Technical support levels: 1.4387 1.4300 1.4183

Trading range: 1.4455 - 1.4380Trend: DownwardSell at 1.4441 SL 1.4471 TP 1.4391

Already made +60 pips profit on GBP/USD today from the following signal:6:18 GMT+1 Sell GBP/USD at 1.4459 SL 1.4485 TP 1.4399 TP reached at 8:14 GMT+1.Today so far +156, on Friday +78, as shown in details at