GBP/USD Open 1.5654 High 1.5801 Low 1.5631 Close 1.5702
On Monday Pound/Dollar decreased significantly with 170 pips, in line with the negative Interbank sentiment at almost -38%. The Cable depreciated from 1.5801 to 1.5631 yesterday, closing the day at 1.5702. Today the British Pound is trading hesitantly, and at the lower end of yesterday's range for the time being. On the 1 hour chart the downward channel has resumed, while on the 3 hour chart the downward channel looks good. First resistance is yesterday's peak at 1.5801. Break above it should extend the bullish movement further towards 1.5934. The nearest support level is yesterday's bottom at 1.5631. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5500. There are no major economic events for UK today. Quotes are moving above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term bullish and medium term bearish pressure. The value of the RSI indicator is positive and calm, MACD is negative and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving over light long signals.
Technical resistance levels: 1.5801 1.5934 1.6070
Technical support levels: 1.5631 1.5500 1.5364
Trading range: 1.5730 - 1.5660
Sell at 1.5720 SL 1.5750 TP 1.5670
Already made +19 pips profit on GBP/USD today from the following sent to clients only signal:
5:27 GMT+1 Sell GBP/USD at 1.5680 SL 1.5706 TP 1.5620, exit sent at 6:49 GMT+1.
Today so far +91, yesterday +85, as shown in details at http://www.zifx.com/performance.php.