GBP/USD Open 1.6304 High 1.6420 Low 1.6253 Close 1.6297
On Tuesday Pound/Dollar decreased with nearly 170 pips, in converse with the positive Interbank sentiment at nearly +1%. The Cable depreciated from 1.6420 to 1.6253 yesterday, closing the day at 1.6297. Today the British Pound is trading quietly, and within yesterday's range for the time being. On the 1 hour chart quotes have moved into a trading range, while on the 3 hour chart the upward channel has slowed down. First resistance is yesterday's peak at 1.6420. Break above it should extend the bullish movement further towards 1.6544. The nearest support level is yesterday's bottom at 1.6253. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6129. Today was UK Nationwide house price index at 6 GMT. Quotes are moving just above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term slim bullish and medium term bearish pressure. The value of the RSI indicator is neutral and declining, MACD is negative and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.6420 1.6544 1.6680
Technical support levels: 1.6253 1.6129 1.6000
Trading range: 1.6325 - 1.6250
Sell at 1.6313 SL 1.6343 TP 1.6263
Already made +25 pips profit on GBP/USD today from the following sent to clients only signal:
5:29 GMT+1 Sell GBP/USD at 1.6315 SL 1.6341 TP 1.6255, exit sent at 8:24 GMT+1.
Today so far +77, yesterday +117, as shown in details at http://www.zifx.com/performance.php.