GBP/USD Open 1.6133 High 1.6178 Low 1.6054 Close 1.6120
On Tuesday Pound/Dollar also increased with 120 pips, in converse with the negative Interbank sentiment at bellow -3%. The Cable appreciated from 1.6054 to 1.6178 yesterday, closing the day at 1.6120. Today the British Pound is showing weakness, but movements are still within yesterday's range for the time being. On the 1 hour chart range trading has formed, while on the 3 hour chart the downward channel is on hold. First resistance is yesterday's peak at 1.6178. Break above it should extend the bullish movement further towards 1.6300. The nearest support level is yesterday's bottom at 1.6054. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5930. Today are UK BoE meeting minutes at 8:30 GMT. Quotes are moving just bellow the close 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and declining, MACD is neutral and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.6178 1.6300 1.6434
Technical support levels: 1.6054 1.5930 1.5800
Trading range: 1.6095 - 1.6025
Sell at 1.6083 SL 1.6113 TP 1.6035
Already made +8 pips profit on GBP/USD today from the following signal:
6:44 GMT+1 Sell GBP/USD at 1.6102 SL 1.6128 TP 1.6042, exit sent at 6:46 GMT+1.
Today so far +98, yesterday +130, as shown in details at http://www.zifx.com/performance.php.