GBP/USD Open 1.5882 High 1.5904 Low 1.5720 Close 1.5867
On Friday Pound/Dollar continued recovering significantly with 180 pips. The Cable appreciated from 1.5720 to 1.5904 on Friday, in line with the positive Interbank sentiment at over +32%, closing the week at 1.5867. Today the British Pound is trading quietly, moving at the upper end of Friday's range for the time being. On the 1 hour chart quotes are still holding within the trading range, while on the 3 hour chart new wider range trading is forming. First resistance is Friday's peak at 1.5904. Break above it should extend the bullish movement further towards 1.6030. The nearest support level is Friday's bottom at 1.5720. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5600. There are no major economic events for UK today. Quotes are moving in line with the 20 and above the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bullish pressure. The value of the RSI indicator is neutral and declining, MACD is positive and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.5904 1.6030 1.6164
Technical support levels: 1.5720 1.5600 1.5467
Already made +6 pips profit on GBP/USD today from the following sent to clients only signal:
5:19 GMT Buy GBP/USD at 1.5863 SL 1.5837 TP 1.5923, exit sent at 7:24 GMT+1.
Today so far +50, on Friday +153, as shown in details at http://www.zifx.com/performance-past.php.