GBP/USD 1.4527 - 8 June 2010

GBP/USD Open 1.4470 High 1.4556 Low 1.4394 Close 1.4466

On Monday Pound/Dollar followed the Euro sharply downwards, in line with negative Interbank sentiment at nearly -49%, than rose much higher. The Cable depreciated to 1.4394, than climbed to 1.4556, closing the day at 1.4466. Today movements are hesitant so far, without clear direction. First resistance is yesterday's top at 1.4556. Break above it should extend the bullish movement further towards 1.4678. The nearest support is yesterday's bottom at 1.4394. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.4300. Today is the UK Nationwide consumer confidence at 23:01 GMT. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slightly bullish market. The value of the RSI indicator is positive and calm, MACD is neutral and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving overall neutral signals.Technical resistance levels: 1.4556 1.4678 1.4800Technical support levels: 1.4394 1.4300 1.4183

Trading range: 1.4540 - 1.4465Trend: DownwardSell at 1.4527 SL 1.4557 TP 1.4477

Already made +24 pips profit on GBP/USD today from the following signal:5:33 GMT+1 Sell GBP/USD at 1.4505 SL 1.4531 TP 1.4445 exit at 7:26 GMT+1.Today so far +101, yesterday +156, as shown in details at