GBP/USD Open 1.5519 High 1.5656 Low 1.5492 Close 1.5522
On Wednesday Pound/Dollar continued decreasing, with 165 pips. The Cable depreciated from 1.5656 to 1.5492 yesterday, in line with the negative Interbank sentiment at nearly -19%, closing the day at 1.5522. Today the British Pound is trading hesitantly at the lower end of yesterday's range for the time being. On the 1 hour chart the downward channel looks good, while on the 3 hour chart new downward channel is emerging. First resistance is yesterday's peak at 1.5656. Break above it should extend the bullish movement further towards 1.5771. The nearest support level is yesterday's bottom at 1.5492. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5366. Today are UK GDP Q3, and CBI industrial order books and output balance, at 10:30 and 11 GMT respectively. 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 positive and calm, MACD is negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.5656 1.5771 1.5900
Technical support levels: 1.5492 1.5366 1.5230
Trading range: 1.5545 - 1.5475
Sell at 1.5535 SL 1.5565 TP 1.5485
Already made +37 pips profit on GBP/USD today from the following sent to clients only signal:
5:23 GMT Sell GBP/USD at 1.5555 SL 1.5581 TP 1.5495, exit sent at 8:15 GMT+1.
Today so far +84, yesterday +115, as shown in details at http://www.zifx.com/performance.php.