GBP/USD Open 1.6084 High 1.6141 Low 1.5953 Close 1.6096
On Thursday Pound/Dollar increased strongly with almost 190 pips, in line with the positive Interbank sentiment at above +13%. The Cable appreciated from 1.5953 to 1.6141 yesterday, closing the day at 1.6096. Today the British Pound is trading quietly, moving at the upper end of yesterday's range for the time being. On the 1 hour chart the upward channel looks good, while on the 3 hour chart the new upward channel is also intact. First resistance is yesterday's peak at 1.6141. Break above it should extend the bullish movement further towards 1.6265. The nearest support level is yesterday's bottom at 1.5953. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5830. There are no major economic events for UK today. 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 declining, MACD is positive and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.6141 1.6265 1.6400
Technical support levels: 1.5953 1.5830 1.5700
Trading range: 1.6065 - 1.6135
Buy at 1.6075 SL 1.6045 TP 1.6125
Already made +18 pips profit on GBP/USD today from the following sent to clients only signal:
5:25 GMT+1 Buy GBP/USD at 1.6082 SL 1.6056 TP 1.6142, exit sent at 7:09 GMT+1.
Today so far +63, yesterday +156, as shown in details at http://www.zifx.com/performance.php.