GBP/USD 1.6393 - 7 September 2009 GBP/USD Open 1.6412 High 1.6442 Low 1.6297 Close 1.6382

Pound/Dollar made an ascending movement on Friday. On the 3 hour chart that the Cable is still above the bearish channel, and with indicators pointing to a potential bullish scenario. Expectations remain bullish in the short term, but a good resistance may limit the rising of the Sterling at 1.6445. Break above this level might lead to further upward impulse with targets towards 1.6570. The nearest support is 1.6300. Break at that level may trigger stronger descending movement down to 1.6240, and may give end to the bullish scenario. The CCI indicator has crossed up the 100 line on the 1 hour chart, suggesting potential upward pressure.

Technical resistance levels: 1.6445 1.6570 1.6700

Technical support levels: 1.6300 1.6170 1.6080

Trading range: 1.6380 - 1.6455

Trend: Upward

Buy at 1.6393 SL 1.6363 TP 1.6443

Already made +60 pips profit on GBP/USD today from the following signal:

5:38 GMT+1 Buy GBP/USD at 1.6376 SL 1.6350 TP 1.6436 TP reached at 8:38 GMT

Today so far +139, on Friday +123, as shown at