GBP/USD Open 1.5497 High 1.5629 Low 1.5466 Close 1.5493
On Thursday Pound/Dollar continued decreasing with 160 pips. The Cable depreciated from 1.5629 to 1.5466 yesterday, in converse with the positive Interbank sentiment at nearly +46%, closing the day at 1.5615. Today the British Pound is trading hesitantly, with movements at the lower end of yesterday's range for the time being. On the 1 hour chart quotes are back in the trading range, while on the 3 hour chart the downward channel is on hold. First resistance is yesterday's peak at 1.5629. Break above it should extend the bullish movement further towards 1.5755. The nearest support level is yesterday's bottom at 1.5466. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5338. There are no major economic events for UK today. Quotes are moving about in line with the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bearish pressure. The value of the RSI indicator is positive and hesitant, MACD is negative and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all neutral to light long signals.
Technical resistance levels: 1.5629 1.5755 1.5890
Technical support levels: 1.5466 1.5338 1.5200
Trading range: 1.5525 - 1.5450
Sell at 1.5514 SL 1.5544 TP 1.5464
Already made +15 pips profit on GBP/USD today from the following sent to clients only signal:
5:23 GMT Sell GBP/USD at 1.5495 SL 1.5521 TP 1.5435, exit sent at 6:00 GMT+1.
Today so far +49, yesterday +177, as shown in details at http://www.zifx.com/performance.php.