GBP/USD Open 1.5936 High 1.5986 Low 1.5867 Close 1.5929
On Thursday Pound/Dollar traded within 120 pip range. The Cable depreciated from 1.5986 to 1.5867 yesterday, in converse with the positive Interbank sentiment at almost +20%, closing the day at 1.5929. Today the British Pound is trading hesitantly, but with movements within yesterday's range for the time being. On the 1 hour chart range trading has formed, while on the 3 hour chart the upward channel is again on hold. First resistance is yesterday's peak at 1.5986. Break above it should extend the bullish movement further towards 1.6110. The nearest support level is yesterday's bottom at 1.5867. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5745. Today are UK PPI Output and Input, both at 8:30 GMT. Quotes are just about crossing the almost even 20 and 50 EMA on the 1 hour chart, indicating neutral market. The value of the RSI indicator is thinly thinly negative and inclining upwards, MACD is negative and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all neutral to light short signals.
Technical resistance levels: 1.5986 1.6110 1.6242
Technical support levels: 1.5867 1.5745 1.5610
Trading range: 1.5950 - 1.5875
Sell at 1.5937 SL 1.5967 TP 1.5887
Already made +28 pips profit on GBP/USD today from the following sent to clients only signal:
5:23 GMT Sell GBP/USD at 1.5929 SL 1.5955 TP 1.5869, exit sent at 7:58 GMT+1.
Today so far +102, yesterday +130, as shown in details at http://www.zifx.com/performance.php.