GBP/USD Open 1.6422 High 1.6440 Low 1.6263 Close 1.6404
On Tuesday Pound/Dollar resumed increasing with 165 pips, in line with the positive Interbank sentiment at nearly +8%. The Cable appreciated from 1.6263 to 1.6430 yesterday, closing the day at 1.6404. Today the British Pound rose even further, climbing to 1.6440. On the 1 hour chart the upward channel looks good, while on the 3 hour chart new upward channel has emerged. First resistance is today's peak at 1.6440. Break above it should extend the bullish movement further towards 1.6567. The nearest support level is yesterday's bottom at 1.6263. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6140. Today are UK CBI industrial order books and output balance, both at 10 GMT. Quotes are moving bellow the 20 and above the 50 EMA on the 1 hour chart, indicating short term bearish and medium term bullish pressure. The value of the RSI indicator is neutral and declining, MACD is neutral and tranquil, while CCI has is in line with the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.6440 1.6567 1.6700
Technical support levels: 1.6263 1.6139 1.6000
Trading range: 1.6380 - 1.6450
Buy at 1.6390 SL 1.6360 TP 1.6440
Already made +27 pips profit on GBP/USD today from the following signal:
7:16 GMT+1 Buy GBP/USD at 1.6403 SL 1.6377 TP 1.6463, exit sent at 8:00 GMT+1.
Today so far +96, yesterday +148, as shown in details at http://www.zifx.com/performance.php.