GBP/USD 1.5165 - 9 July 2010

GBP/USD Open 1.5154 High 1.5241 Low 1.5105 Close 1.5165

On Thursday Pound/Dollar rose first, as expected, than corrected downwards, not exactly in line with the Interbank sentiment at nearly +15%. The Cable appreciated to 1.5241, from where it started descending down to 1.5105 yesterday, closing the day at 1.5165. Today the pair is moving hesitantly and without clear direction for now. On the 1 and 3 hour charts the upward channel will continue if yesterday's top is prevailed. First resistance is yesterday's peak at 1.5241. Break above it should extend the bullish movement further towards 1.5331. The nearest support is yesterday's bottom at 1.5105. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.4998. Today are the UK Trade in goods, Non-EU trade, PPI Output and Input, all at 8:30 GMT. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and consolidating, MACD is neutral and calm, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.Technical resistance levels: 1.5241 1.5331 1.5450Technical support levels: 1.5105 1.4998 1.4900

Trading range: 1.5155 - 1.5225Trend: UpwardBuy at 1.5165 SL 1.5135 TP 1.5215

Already made +60 pips profit on GBP/USD today from the following signal:5:33 GMT+1 Buy GBP/USD at 1.5141 SL 1.5115 TP 1.5201 TP reached at 8:02 GMT+1.Today so far +128, yesterday +104, as shown in details at