GBP/USD Open 1.5697 High 1.5724 Low 1.5593 Close 1.5708
On Wednesday Pound/Dollar increased with 130 pips. The Cable appreciated from 1.5593 to 1.5724 yesterday, in line with the positive Interbank sentiment at nearly +2%, closing the day at 1.5708. Today the British Pound is trading quietly, with movements at the upper end of yesterday's range for the time being. 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 yesterday's peak at 1.5724. Break above it should extend the bullish movement further towards 1.5850. The nearest support level is yesterday's bottom at 1.5593. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5470. Today are UK Halifax house price index and BoE meeting announcement, at 8 and 12 GMT respectively. Quotes are moving just above the crossed 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is neutral and consolidating, MACD is positive and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all neutral to light long signals.
Technical resistance levels: 1.5724 1.5850 1.5983
Technical support levels: 1.5593 1.5470 1.5334
Trading range: 1.5685 - 1.5755
Buy at 1.5695 SL 1.5665 TP 1.5745
Already made +20 pips profit on GBP/USD today from the following sent to clients only signal:
5:24 GMT Sell GBP/USD at 1.5712 SL 1.5738 TP 1.5652, exit sent at 8:15 GMT+1.
Today so far +54, yesterday +71, as shown in details at http://www.zifx.com/performance.php.