GBP/USD Open 1.6219 High 1.6254 Low 1.6185 Close 1.6218
On Tuesday Pound/Dollar decreased insignificantly with 70 pips. The Cable depreciated from 1.6254 to 1.6185 yesterday, in converse with the positive Interbank sentiment at under +22%, closing the day at 1.6218. Today the British Pound is trading quietly, with movements within yesterday's range for the time being.
On the 1 hour chart the upward channel still looks good, while on the 3 hour chart smaller angle upward channel has formed. First resistance is yesterday's peak at 1.6254. Break above it should extend the bullish movement further towards 1.6370. The nearest support level is yesterday's bottom at 1.6185. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6061.
Today are UK M4 money supply and Consumer credit, both at 8:30 GMT.
Quotes are moving almost in line with the even 20 and 50 EMA on the 1 hour chart, indicating neutral market. The value of the RSI indicator is positive and hesitant, MACD is neutral and tranquil, while CCI is in line with the 100 line on the 1 hour chart, giving over all neutral to light long signals.
Technical resistance levels: 1.6254 1.6370 1.6500
Technical support levels: 1.6185 1.6061 1.5930
Already made +6 pips profit on GBP/USD today from the following sent to clients only signal:
5:19 GMT+1 Buy GBP/USD at 1.6229 SL 1.6203 TP 1.6289, exit sent at 5:36 GMT+1.
Today so far +52, yesterday +127, as shown in details at http://www.zifx.com/performance-past.php.
Technical analysis for precious metals with major support and resistance levels and recommendations for 18-08-2009