GBP/USD 1.4682 - 8 April

GBP/USD Open 1.4736 High 1.4773 Low 1.4596 Close 1.4726

Pound/Dollar moved tentatively yesterday. The Cable fell down to the bottom 1.4582, but further bearish scenario was limited, and after a sharp rise to the top 1.4775, the currency couple closed at 1.4727. Short term signals remain unclear. On the 4 hour chart there is a valid bullish channel, with several secondary descending channels, showing that the downward movement from the last 2 days may be a correction to the long term upwards scenario. Immediate resistance is yesterday's top 1.4775. Break above this level may lead to further bullish momentum towards 1.4900. The CCI indicator is in the neutral zone of the 4 hour chart. Short term support is yesterday's bottom at 1.4595.

Technical resistance levels: 1.4775 1.4900 1.5050

Technical support levels: 1.4595 1.4450 1.4330

Trading range: 1.4695 - 1.4620

Trend: Downward

Sell at 1.4682 SL 1.4712 TP 1.4632

Today we made already +56 pips profit on GBP/USD from the following signal:

5:45 GMT+1 Sell GBP/USD at 1.4692 SL 1.4718 TP 1.4632 exited at 7:36 GMT

Today so far +186, yesterday +128, as shown at