GBP/USD Open 1.6497 High 1.6573 Low 1.6452 Close 1.6492
On Tuesday Pound/Dollar increased with 120 pips, in line with the positive Interbank sentiment at above +32%. The Cable appreciated from 1.6452 to 1.6573 yesterday, closing the day at 1.6492. Today the British Pound is trading quietly, and within yesterday's range for the time being. On the 1 hour the upward channel has slowed down, while on the 3 hour chart the wider upward channel looks good. First resistance is yesterday's peak at 1.6573. Break above it should extend the bullish movement further towards 1.6700. The nearest support level is yesterday's bottom at 1.6452. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6320. Today is UK Nationwide consumer confidence at 23 GMT. Quotes are moving just bellow the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and declining, MACD is neutral and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.6573 1.6700 1.6838
Technical support levels: 1.6452 1.6320 1.6177
Trading range: 1.6460 - 1.6535
Buy at 1.6473 SL 1.6443 TP 1.6523
Already made +17 pips profit on GBP/USD today from the following signal:
5:25 GMT+1 Buy GBP/USD at 1.6496 SL 1.6470 TP 1.6556, exit sent at 7:32 GMT+1.
Today so far +95, yesterday +160, as shown in details at http://www.zifx.com/performance.php.