GBP/USD Open 1.5957 High 1.5974 Low 1.5800 Close 1.5967

On Monday Pound/Dollar increased with 175 pips. The Cable appreciated from 1.5800 to 1.5974 yesterday, in line with the positive Interbank sentiment at above +46%, closing the day at 1.5967. Today the British Pound is trading quietly, with movements at the upper end of yesterday's range for the time being. On the 1 hour chart new upward channel is emerging, while on the 3 hour chart the trading in wide range continues. First resistance is yesterday's peak at 1.5974. Break above it should extend the bullish movement further towards 1.6100. The nearest support level is yesterday's bottom at 1.5800. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5677. Today are UK Current account and CBI retail sales volume balance, at 8:30 and 10 GMT respectively. 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 positive and declining, MACD is positive and tranquil, while CCI is about to cross down the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.5974 1.6100 1.6234
Technical support levels: 1.5800 1.5677 1.5540
Already made +19 pips profit on GBP/USD today from the following sent to clients only signal:
5:20 GMT Sell GBP/USD at 1.5961 SL 1.5987 TP 1.5901, exit sent at 8:18 GMTGMT+1.
Today so far +57, yesterday +179, as shown in details at http://www.zifx.com/performance-past.php.

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