GBP/USD Open 1.6288 High 1.6313 Low 1.6165 Close 1.6272
On Friday Pound/Dollar increased significantly with 250 pips, in line with the positive Interbank sentiment at over +13%. The Cable appreciated from 1.6165 to 1.6313 on Friday, closing the week at 1.6272. Today the British Pound is trading hesitantly and within Friday's range for the time being. On the 1 hour the new downward channel is fading away, while on the 3 hour chart trading is within wide range. First resistance is Friday's peak at 1.6313. Break above it should extend the bullish movement further towards 1.6441. The nearest support level is Friday's bottom at 1.6165. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6039. 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 neutral and calm, MACD is positive and calm, while CCI is has crossed down the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.6313 1.6441 1.6570
Technical support levels: 1.6165 1.6039 1.5900
Trading range: 1.6255 - 1.6330
Buy at 1.6266 SL 1.6236 TP 1.6316
Already made +23 pips profit on GBP/USD today from the following signal:
5:29 GMT+1 Buy GBP/USD at 1.6286 SL 1.6260 TP 1.6346, exit sent at 6:36 GMT+1.
Today so far +112, on Friday +108, as shown in details at http://www.zifx.com/performance.php.