GBP/USD With A Weak Start Of The Week

By @ibtimes on

GBP/USD Open 1.5719 High 1.5828 Low 1.5684 Close 1.5762

On Monday Pound/Dollar decreased with 110 pips. The Cable depreciated from 1.5828 to 1.5714 yesterday, in converse with the positive Interbank sentiment at almost +53%, closing the day at 1.5762. Today the British Pound weakened further, slipping down to 1.5684. On the 1 hour chart range trading is forming, while on the 3 hour chart the upward channel has slowed down. First resistance is yesterday's peak at 1.5828. Break above it should extend the bullish movement further towards 1.5952. The nearest support level is today's bottom at 1.5684. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5560. Today are UK HICP, Retail prices, RPI-X, all at 9:30 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 inclining upwards, MACD is negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all to light short signals.
Technical resistance levels: 1.5828 1.5952 1.6085
Technical support levels: 1.5684 1.5560 1.5427
Already made +4 pips profit on GBP/USD today from the following sent to clients only signal:
6:40 GMT Sell GBP/USD at 1.5699 SL 1.5725 TP 1.5639, exit sent at 6:43 GMT+1.
Today so far +55, yesterday +106, as shown in details at http://www.zifx.com/performance.php.

ZIFX.com

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