GBP/USD Open 1.5577 High 1.5667 Low 1.5489 Close 1.5578
On Friday Pound/Dollar increased with 135 pips, in line with the positive Interbank sentiment at almost +2%. The Cable appreciated from 1.5531 to 1.5667 on Friday, closing the week at 1.5578. Today the British Pound descended, dropping down to 1.5489. On the 1 hour chart the downward channel is making renewal attempts, while on the 3 hour chart the downward channel is on hold. First resistance is Friday's peak at 1.5667. Break above it should extend the bullish movement further towards 1.5800. The nearest support level is today's bottom at 1.5489. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5360. Today is UK CIPS manufacturing index at 8:30 GMT. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and declining, MACD is thinly negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 1.5667 1.5800 1.5933
Technical support levels: 1.5489 1.5360 1.5223
Trading range: 1.5560 - 1.5490
Sell at 1.5550 SL 1.5580 TP 1.5500
Already made +26 pips profit on GBP/USD today from the following sent to clients only signal:
5:28 GMT+1 Sell GBP/USD at 1.5539 SL 1.5565 TP 1.5479, exit sent at 8:05 GMT+1.
Today so far +107, on Friday +114, as shown in details at http://www.zifx.com/performance.php.