GBP/USD Open 1.5299 High 1.5409 Low 1.5232 Close 1.5312
On Friday Pound/Dollar decreased significantly with 170 pips. The Cable depreciated from 1.5409 to 1.5232 on Friday, in line with the negative Interbank sentiment at almost -30%, closing the week at 1.5312. Today the British Pound is trading hesitantly, at the lower half of Friday's range for the time being. On the 1 hour chart the downward channel is trying to resume, while on the 3 hour chart new small angle downward channel has emerged. First resistance is Friday's peak at 1.5409. Break above it should extend the bullish movement further towards 1.5530. The nearest support level is Friday's bottom at 1.5232. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5110. There are no major economic events for UK today. Quotes are moving just bellow the close and twisted 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is thinly negative and declining, MACD is negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.5409 1.5530 1.5654
Technical support levels: 1.5232 1.5110 1.4977
Trading range: 1.5310 - 1.5235
Sell at 1.5297 SL 1.5327 TP 1.5247
Already made +23 pips profit on GBP/USD today from the following sent to clients only signal:
5:21 GMT Sell GBP/USD at 1.5310 SL 1.5336 TP 1.5250, exit sent at 8:35 GMT+1.
Today so far +75, on Friday +136, as shown in details at http://www.zifx.com/performance.php.