GBP/USD Open 1.5569 High 1.5678 Low 1.5541 Close 1.5573
On Wednesday Pound/Dollar corrected downwards with almost 120 pips, in converse with the positive Interbank sentiment at above +5%. The Cable depreciated from 1.5678 to 1.5561 yesterday, closing the day at 1.5573. Today the British Pound is recovering, after dropping down to 1.5541. On the 1 hour chart the downward channel was broken upwards, while on the 3 hour chart the downward channel is on hold. First resistance is yesterday's peak at 1.5678. Break above it should extend the bullish movement further towards 1.5800. The nearest support level is yesterday's bottom at 1.5541. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5423. Today are UK Nationwide house price index, M4 money supply, Consumer credit and Gfk consumer confidence, at 6, 8:30 and 23:01 GMT respectively. Quotes are moving just above the almost even and crossed 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and rising, MACD is neutral and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.5678 1.5800 1.5934
Technical support levels: 1.5541 1.5423 1.5290
Trading range: 1.5630 - 1.5705
Buy at 1.5641 SL 1.5611 TP 1.5691
Already made +34 pips profit on GBP/USD today from the following sent to clients only signal:
5:26 GMT+1 Buy GBP/USD at 1.5631 SL 1.5605 TP 1.5691, exit sent at 8:37 GMT+1.
Today so far +79, yesterday +158, as shown in details at http://www.zifx.com/performance.php.