On Tuesday Pound/Dollar formed a diversion on the 3 hour chart. The Cable made a significant downward movement of nearly 200 pips to the 1.6111 bottom, but further downward movement was limited and the currency pair closed the day at 1.6136. Immediate resistance is 1.6295. Short term signals are downwards. The nearest support is today's bottom at 1.6045. Break bellow this level may cause further bearish pressure towards next target at 1.5920. The CCI indicator is about to cross the 100 line on the 1 hour chart, indicating bearish pressure.
Technical resistance levels: 1.6300 1.6435 1.6550
Technical support levels: 1.6045 1.5920 1.5800
Trading range: 1.6125 - 1.6055
Sell at 1.6115 SL 1.6145 TP 1.6065
Yesterday made already +60 pips profit on GBP/USD from the following signal:
5:54 GMT+1 Sell GBP/USD at 1.6115 SL 1.6141 TP 1.6055 TP reached at 7:10 GMT
Today so far +170, yesterday +173, as shown at www.zifx.com/performance.php