GBP/USD Open 1.5937 High 1.6000 Low 1.5752 Close 1.5946
On Friday Pound/Dollar increased significantly with over 220 pips, in line with the positive Interbank sentiment at above +11%. The Cable appreciated from 1.5752 to 1.5978 on Friday, closing the week at 1.5946. Today the British Pound climbed even further, reaching 1.6000. On the 1 hour chart the upward channel has resumed, while on the 3 hour chart new upward channel is emerging. First resistance is today's psychological peak at 1.6000. Break above it should extend the bullish movement further towards 1.6124. The nearest support level is Friday's bottom at 1.5752. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5630. There are no major economic events for UK today. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and declining, MACD is 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: 1.6000 1.6124 1.6260
Technical support levels: 1.5752 1.5630 1.5500
Trading range: 1.5940 - 1.6015
Buy at 1.5952 SL 1.5922 TP 1.6002
Already made +39 pips profit on GBP/USD today from the following sent to clients only signal:
5:25 GMT+1 Buy GBP/USD at 1.5961 SL 1.5935 TP 1.6021, exit sent at 7:35 GMT+1.
Today so far +139, on Friday +133, as shown in details at http://www.zifx.com/performance.php.