GBP/USD Open 1.5704 High 1.5823 Low 1.5630 Close 1.5710
On Tuesday Pound/Dollar decreased with 190 pips, in converse with the positive Interbank sentiment at almost +8%. The Cable depreciated from 1.5823 to 1.5630 yesterday, closing the day at 1.5710. Today the British Pound is making recovery efforts, but movements are still caught within yesterday's range for the time being. On the 1 hour chart the upward channel has slowed down, while on the 3 hour chart new upward channel is emerging. First resistance is yesterday's peak at 1.5823. Break above it should extend the bullish movement further towards 1.5950. The nearest support level is yesterday's bottom at 1.5630. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5510. Today are UK BoE meeting minutes at 8:30 GMT. 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 calm, MACD is neutral and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.5823 1.5950 1.6088
Technical support levels: 1.5630 1.5510 1.5383
Trading range: 1.5740 - 1.5815
Buy at 1.5751 SL 1.5721 TP 1.5801
Already made +14 pips profit on GBP/USD today from the following sent to clients only signal:
6:32 GMT+1 Buy GBP/USD at 1.5765 SL 1.5739 TP 1.5825, exit sent at 7:12 GMT+1.
Today so far +87, yesterday +38, as shown in details at http://www.zifx.com/performance.php.