GBP/USD Open 1.6224 High 1.6244 Low 1.6110 Close 1.6234

On Thursday Pound/Dollar stabilized and was trading within 130 pip range, in converse with the positive Interbank sentiment at over +12%. The Cable appreciated from 1.6110 to 1.6244 yesterday, closing the day at 1.6234. Today the British Pound is trading hesitantly and within yesterday's range for the time being. On the 1 hour chart new downward channel is emerging, while on the 3 hour chart trading is within wide range. First resistance is yesterday's peak at 1.6244. Break above it should extend the bullish movement further towards 1.6370. The nearest support level is yesterday's bottom at 1.6110. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5980. There are no major economic events for UK today. Quotes are moving just bellow the crossed 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and declining, MACD is thinly positive and calm, while CCI is has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.6244 1.6370 1.6500
Technical support levels: 1.6110 1.5980 1.5847

Trading range: 1.6210 - 1.6135
Trend: Downward
Sell at 1.6197 SL 1.6227 TP 1.6147

Already made +43 pips profit on GBP/USD today from the following signal:
5:26 GMT+1 Sell GBP/USD at 1.6208 SL 1.6234 TP 1.6148, exit sent at 8:37 GMT+1.
Today so far +102, yesterday +144, as shown in details at http://www.zifx.com/performance.php.

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