GBP/USD Open 1.5667 High 1.5815 Low 1.5647 Close 1.5666
On Wednesday Pound/Dollar sank with 230 pips on the BoE minutes. The Cable depreciated from 1.5815 to 1.5647 yesterday, in converse with the positive Interbank sentiment at almost +50%, closing the day at 1.5666. Today the British Pound weakened slightly further, descending to 1.5762. On the 1 hour chart quotes are at the lower end of the trading range, while on the 3 hour chart the upward channel is still on hold. First resistance is yesterday's peak at 1.5815. Break above it should extend the bullish movement further towards 1.5938. The nearest support level is yesterday's bottom at 1.5647. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5520. Today are UK CBI industrial order books and output balance, both at 11 GMT. Quotes are moving above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term bullish and medium term bearish pressure. The value of the RSI indicator is positive and calm, MACD is negative and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all neutral to light long signals.
Technical resistance levels: 1.5815 1.5938 1.6070
Technical support levels: 1.5647 1.5520 1.5390
Already made +6 pips profit on GBP/USD today from the following sent to clients only signal:
8:11 GMT Sell GBP/USD at 1.5699 SL 1.5725 TP 1.5639, exit sent at 8:12 GMT+1.
Today so far +90, yesterday +108, as shown in details at http://www.zifx.com/performance-past.php.