GBP/USD Open 1.6164 High 1.6195 Low 1.5890 Close 1.6104
On Wednesday Pound/Dollar increased significantly with almost 290 pips, in converse with the morning negative Interbank sentiment at almost -9%. The Cable appreciated from 1.5890 to 1.6178 yesterday, closing the day at 1.6104. Today the British Pound continued recovering, climbing up to 1.6195. On the 1 hour new upward channel has formed, while on the 3 hour chart the downward channel was broken upwards. First resistance is today's peak at 1.6195. Break above it should extend the bullish movement further towards 1.6321. The nearest support level is yesterday's bottom at 1.5890. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5770. 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 positive and calm, MACD is positive and tranquil too, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.6195 1.6321 1.6450
Technical support levels: 1.5890 1.5770 1.5642
Trading range: 1.6155 - 1.6080
Sell at 1.6142 SL 1.6172 TP 1.6092
Already made +16 pips profit on GBP/USD today from the following signal:
6:37 GMT+1 Sell GBP/USD at 1.6130 SL 1.6156 TP 1.6070, exit sent at 7:01 GMT+1.
Today so far +108, yesterday +115, as shown in details at http://www.zifx.com/performance.php.