GBP/USD Open 1.5633 High 1.5735 Low 1.5551 Close 1.5647
On Friday Pound/Dollar increased with 150 pips. The Cable appreciated from 1.5583 to 1.5735 on Friday, in line with the positive Interbank sentiment at over +21%, closing the week at 1.5647. Today the British Pound weakened further, dropping down to 1.5551. On the 1 hour chart range trading has formed, while on the 3 hour chart quotes are keeping within the wider trading range. First resistance is Friday's peak at 1.5735. Break above it should extend the bullish movement further towards 1.5862. The nearest support level is today's bottom at 1.5551. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5460. There are no major economic events for UK today. Quotes are moving way bellow the close 20 and 50 EMA on the 1 hour chart, indicating strong bearish pressure. The value of the RSI indicator is negative and declining, MACD is thinly negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 1.5735 1.5862 1.6000
Technical support levels: 1.5551 1.5429 1.5300
Trading range: 1.5585 - 1.5510
Sell at 1.5574 SL 1.5604 TP 1.5524
Already made +60 pips profit on GBP/USD today from the following sent to clients only signal:
5:23 GMT Sell GBP/USD at 1.5633 SL 1.5659 TP 1.5573, TP reached at 7:38 GMT+1.
Today so far +140, on Friday +114, as shown in details at http://www.zifx.com/performance.php.