GBP/USD Open 1.5828 High 1.5967 Low 1.5785 Close 1.5830

On Friday Pound/Dollar decreased with 145 pips. The Cable depreciated from 1.5967 to 1.5821 on Friday, in converse with the positive Interbank sentiment at over +53%, closing the week at 1.5830. Today the British Pound dipped further, dropping down to 1.5785. On the 1 hour chart new range trading is forming, while on the 3 hour chart the upward channel is still on hold. First resistance is Friday's peak at 1.5967. Break above it should extend the bullish movement further towards 1.6100. The nearest support level is today's bottom at 1.5785. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5660. Today are UK Halifax house price and CIPS services indexes, at 8 and 9:30 GMT. Quotes are moving just bellow the 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 negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.5976 1.6100 1.6233
Technical support levels: 1.5785 1.5660 1.5523
Already made +39 pips profit on GBP/USD today from the following sent to clients only signal:
5:19 GMT Sell GBP/USD at 1.5824 SL 1.5850 TP 1.5764, exit sent at 8:25 GMT+1.
Today so far +119, on Friday +165, as shown in details at http://www.zifx.com/performance-past.php.

ZIFX.com