GBP/USD 1.6432 - 8 September 2009
GBP/USD Open 1.6331 High 1.6447 Low 1.6323 Close 1.6345

Pound/Dollar failed to continue the ascending scenario yesterday. On the 1 hour chart the Cable reached the 1.6442 top, from where it started decreasing down to 1.6326, closing the day at 1.6345. Today the Sterling started climbing again and we expect bullish trend in the short term. However, keep in mind, that the currency couple is currently very vulnerable to further bearish pressure, especially if we see successful break under the 1.6325 support, which may weaken the Pound further. The CCI indicator has crossed up the 100 line on the 1 hour chart, suggesting potential upward pressure.

Technical resistance levels: 1.6450 1.6570 1.6700

Technical support levels: 1.6325 1.6200 1.6080

Trading range: 1.6420 - 1.6495

Trend: Upward

Buy at 1.6432 SL 1.6402 TP 1.6482

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

5:36 GMT+1 Buy GBP/USD at 1.6342 SL 1.6316 TP 1.6402 TP reached at 7:33 GMT

Today so far +190, yesterday +139, as shown at www.zifx.com/performance.php

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