GBP/USD Open 1.5484 High 1.5527 Low 1.5351 Close 1.5426
On Friday Pound/Dollar increasing with 140 pips, in converse with the negative Interbank sentiment at almost -38%. The Cable appreciated from 1.5351 to 1.5496 on Friday, closing the week at 1.5426. Today the British Pound ascended further, reaching up to 1.5527. On the 1 hour chart the downward channel has slowed down, while on the 3 hour chart the downward channel is intact. First resistance is today's peak at 1.5527. Break above it should extend the bullish movement further towards 1.5650. The nearest support level is Friday's bottom at 1.5351. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5228. 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 hesitant, MACD is neutral and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving over neutral signals.
Technical resistance levels: 1.5527 1.5650 1.5789
Technical support levels: 1.5351 1.5228 1.5100
Trading range: 1.5480 - 1.5405
Sell at 1.5468 SL 1.5498 TP 1.5418
Already made +24 pips profit on GBP/USD today from the following sent to clients only signal:
5:25 GMT+1 Sell GBP/USD at 1.5455 SL 1.5481 TP 1.5395, exit sent at 7:04 GMT+1.
Today so far +119, on Friday +126, as shown in details at http://www.zifx.com/performance.php.