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
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