GBP/USD 1.6136 - 9 July

GBP/USD Open 1.6053 High 1.6166 Low 1.5983 Close 1.6068

On Wednesday Pound/Dollar decreased insignificantly from the 1.6131 top to the 1.5983 bottom, closing the day at 1.6068. The 1.6000 support level was broken downwards, which gives possible descending views for the Sterling. However our preferable scenario for today is upwards, as oscillators indicate recovery for the currency couple. Therefore short term signals for now are bullish, but there is a key support around 1.6172. A decisive break of that level may trigger further upwards impetus towards next target 1.6300. Immediate support is 1.5985. Break bellow this level may lead the Cable into further decline towards next target 1.5860. The CCI indicator is about to cross up the 100 line on the 1 hour chart, indicating ascending views.

Technical resistance levels: 1.6175 1.6300 1.6450

Technical support levels: 1.5985 1.5860 1.5750

Trading range: 1.6125 - 1.6200

Trend: Upward

Buy at 1.6136 SL 1.6106 TP 1.6186

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

7:17 GMT+1 Sell GBP/USD at 1.6124 SL 1.6150 TP 1.6064 exited at 8:14 GMT

Today so far +131, yesterday +170, as shown at