GBP/USD Open 1.5751 High 1.5798 Low 1.5541 Close 1.5743
On Wednesday Pound/Dollar increased with over 250 pips, in converse with the negative Interbank sentiment at nearly -14%. The Cable appreciated from 1.5541 to 1.5798 yesterday, closing the day at 1.5743. 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 new upward channel is emerging, while on the 3 hour chart the downward channel is still on hold. First resistance is yesterday's peak at 1.5798. Break above it should extend the bullish movement further towards 1.5924. The nearest support level is yesterday's bottom at 1.5541. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5414. Today are UK Trade in goods and Non-EU trade, both at 8:30 GMT. Quotes are moving in line with the 20 and above the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bullish pressure. The value of the RSI indicator is negative and calm, MACD is positive and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all neutral to light short signals.
Technical resistance levels: 1.5798 1.5924 1.6060
Technical support levels: 1.5541 1.5414 1.5280
Trading range: 1.5715 - 1.5785
Buy at 1.5725 SL 1.5695 TP 1.5775
Already made +27 pips profit on GBP/USD today from the following sent to clients only signal:
7:30 GMT+1 Buy GBP/USD at 1.5755 SL 1.5729 TP 1.5815, exit sent at 8:07 GMT+1.
Today so far +127, yesterday +169, as shown in details at http://www.zifx.com/performance.php.