GBP/USD Open 1.5356 High 1.5512 Low 1.5325 Close 1.5337
On Thursday Pound/Dollar continued decreasing significantly with nearly 190 pips, in line with the negative Interbank sentiment at almost -39%. The Cable depreciated from 1.5512 to 1.5325 yesterday, closing the day at 1.5337. Today the British Pound is trading hesitantly, and within yesterday's range for the time being. On the 1 hour chart the downward channel looks good, while on the 3 hour chart the downward channel is also intact. First resistance is yesterday's peak at 1.5512. Break above it should extend the bullish movement further towards 1.5639. The nearest support level is yesterday's bottom at 1.5325. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5200. There are no major economic events for UK today. 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 positive and rising, MACD is negative and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 1.5512 1.5639 1.5770
Technical support levels: 1.5325 1.5200 1.5067
Trading range: 1.5440 - 1.5365
Sell at 1.5429 SL 1.5459 TP 1.5379
Already made +33 pips profit on GBP/USD today from the following sent to clients only signal:
5:29 GMT+1 Sell GBP/USD at 1.5406 SL 1.5432 TP 1.5346, exit sent at 6:35 GMT+1.
Today so far +126, yesterday +193, as shown in details at http://www.zifx.com/performance.php.