GBP/USD Open 1.5746 High 1.5849 Low 1.5719 Close 1.5741
On Monday Pound/Dollar decreased with 130 pips, in converse with the positive Interbank sentiment at above +3%. The Cable depreciated from 1.5849 to 1.5719 yesterday, closing the day at 1.5741. Today the British Pound is moving hesitantly, and within yesterday's range for the time being. On the 1 hour chart the upward channel has slowed down, while on the 3 hour chart new upward channel is emerging. First resistance is yesterday's peak at 1.5849. Break above it should extend the bullish movement further towards 1.5975. The nearest support level is yesterday's bottom at 1.5729. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5610. Today are UK HICP, Retail prices and RPI-X, all at 8:30 GMT. Quotes are moving just bellow the crossed and close 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 neutral and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.5849 1.5975 1.6100
Technical support levels: 1.5729 1.5610 1.5476
Trading range: 1.5775 - 1.5700
Sell at 1.5763 SL 1.5793 TP 1.5713
Already made +10 pips profit on GBP/USD today from the following sent to clients only signal:
7:23 GMT+1 Buy GBP/USD at 1.5787 SL 1.5761 TP 1.5847, exit sent at 7:25 GMT+1.
Today so far +38, yesterday +163, as shown in details at http://www.zifx.com/performance.php.