GBP/USD Open 1.5767 High 1.5815 Low 1.5705 Close 1.5765
On Wednesday Pound/Dollar traded within 110 pip range, in converse with the negative Interbank sentiment at almost -46%. The Cable appreciated from 1.5705 to 1.5815 yesterday, closing the day at 1.5765. Today the British Pound is trading hesitantly, and within yesterday's range for the time being. On the 1 hour chart the downward channel is intact, while on the 3 hour chart the new downward channel looks good. First resistance is yesterday's peak at 1.5815. Break above it should extend the bullish movement further towards 1.5940. The nearest support level is today's bottom at 1.5705. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5580. Today are UK Retail sales at 08:30 GMT. Quotes are moving just bellow the close 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and calm, MACD is thinly negative and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.5815 1.5940 1.6077
Technical support levels: 1.5705 1.5580 1.5451
Trading range: 1.5790 - 1.5715
Sell at 1.5776 SL 1.5806 TP 1.5726
Already made +32 pips profit on GBP/USD today from the following sent to clients only signal:
5:27 GMT+1 Sell GBP/USD at 1.5766 SL 1.5792 TP 1.5706, exit sent at 8:16 GMT+1.
Today so far +114, yesterday +144, as shown in details at http://www.zifx.com/performance.php.