GBP/USD Open 1.5493 High 1.5595 Low 1.5434 Close 1.5507
On Monday Pound/Dollar increased significantly with 160 pips. The Cable appreciated from 1.5434 to 1.5595 yesterday, in converse with the negative Interbank sentiment at bellow -27%, closing the day at 1.5507. Today the British Pound is trading hesitantly, with movements within yesterday's range for the time being. On the 1 hour chart the downward channel has slowed down, while on the 3 hour chart quotes are testing the lower limit of the wide trading range. First resistance is yesterday's peak at 1.5595. Break above it should extend the bullish movement further towards 1.5716. The nearest support level is yesterday's bottom at 1.5434. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5310. Today are UK Nationwide house price index, M4 money supply, and Consumer credit, at 7 and 9:30 GMT respectively. Quotes are moving just above the close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is thinly positive and calm, MACD is neutral and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.5595 1.5716 1.5850
Technical support levels: 1.5434 1.5310 1.5178
Trading range: 1.5550 - 1.5475
Sell at 1.5538 SL 1.5568 TP 1.5488
Already made +20 pips profit on GBP/USD today from the following sent to clients only signal:
5:23 GMT Buy GBP/USD at 1.5519 SL 1.5493 TP 1.5579, exit sent at 8:37 GMT+1.
Today so far +84, yesterday +101, as shown in details at http://www.zifx.com/performance.php.