GBP/USD Open 1.6412 High 1.6460 Low 1.6317 Close 1.6407
On Monday Pound/Dollar increased with 140 pips, in line with the positive Interbank sentiment at above +4%. The Cable appreciated from 1.6317 to 1.6460 yesterday, closing the day at 1.6407. Today the British Pound is trading with a slight descend, but within yesterday's range for the time being. On the 1 hour chart quotes have moved into a trading range, while on the 3 hour chart quotes the upward channel is making renewal efforts. First resistance is yesterday's peak at 1.6460. Break above it should extend the bullish movement further towards 1.6593. The nearest support level is yesterday's bottom at 1.6317. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6192. Today are M4 money supply, Consumer credit and Gfk consumer confidence, at 8:30 and 23:01 GMT respectively. 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 calm, MACD is positive and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.6460 1.6593 1.6734
Technical support levels: 1.6317 1.6192 1.6055
Trading range: 1.6360 - 1.6435
Buy at 1.6372 SL 1.6342 TP 1.6422
Already made +18 pips profit on GBP/USD today from the following signal:
5:27 GMT+1 Buy GBP/USD at 1.6402 SL 1.6376 TP 1.6462, exit sent at 6:59 GMT+1.
Today so far +117, yesterday +134, as shown in details at http://www.zifx.com/performance.php.