GBP/USD 1.5842 - 8 June

GBP/USD Open 1.5946 High 1.6426 Low 1.6021 Close 1.5976

Pound/Dollar also had a significant bearish impetus on Friday, which continued today. The Cable made a bottom at 1.5942 and closed last week at 1.5975. This indicates failure of the medium term increasing scenario. Key support level at this time is 1.5800. Consistent movement under this level may trigger further decreasing momentum towards next target 1.5680. Signals are bearish for the time being. The CCI indicator has just crossed down the 100 line on the daily chart, assuming potential descending pressure.

Technical resistance levels: 1.6500 1.6770 1.6900

Technical support levels: 1.6020 1.5910 1.5780

Trading range: 1.5855 - 1.5780

Trend: Downward

Sell at 1.5842 SL 1.5872 TP 1.5792

Today we made already +60 pips profit on GBP/USD from the following signal:

6:08 GMT+1 Sell GBP/USD at 1.5954 SL 1.5980 TP 1.5894 TP reached at 7:03 GMT

Today so far +182, on Friday +123, as shown at www.zifx.com/performance.php