GBP/USD Open 1.6056 High 1.6081 Low 1.5978 Close 1.6053
On Monday Pound/Dollar traded within 100 pip range. The Cable depreciated from 1.6081 to 1.5978 yesterday, in converse with the positive Interbank sentiment at almost +28%, closing the day at 1.6053. Today the British Pound is pushing slightly up, but movements are still within yesterday's range for the time being. On the 1 hour chart new range trading is emerging, while on the 3 hour chart the upward channel is on hold. First resistance is yesterday's peak at 1.6081. Break above it should extend the bullish movement further towards 1.6200. The nearest support level is yesterday's bottom at 1.5978. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5850. Today are UK Halifax house price index, Industrial production and Manufacturing output, at 8 and 8:30 GMT respectively. Quotes are moving just above the close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is thinly positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.6081 1.6200 1.6332
Technical support levels: 1.5978 1.5850 1.5717
Trading range: 1.6085 - 1.6010
Sell at 1.6072 SL 1.6102 TP 1.6022
Already made +8 pips profit on GBP/USD today from the following sent to clients only signal:
5:23 GMT Sell GBP/USD at 1.6043 SL 1.6069 TP 1.5983, exit sent at 5:42 GMT+1.
Today so far +75, yesterday +124, as shown in details at http://www.zifx.com/performance.php.