GBP/USD Stabilizes, Further Weakening Not Excluded

On Thursday Pound/Dollar increased insignificantly with 60 pips. The Cable appreciated from 1.6153 to 1.6216 yesterday, in line with the positive Interbank sentiment at nearly +11%, closing the day at 1.6175. Today the British Pound is trading quietly and with slight decline, with movements still within yesterday's range for the time being.

On the 1 hour chart the upward channel is on hold, while on the 3 hour chart smaller angle upward channel has formed. First resistance is yesterday's peak at 1.6216. Break above it should extend the bullish movement further towards 1.6340. The nearest support level is yesterday's bottom at 1.6153. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.6034.

07:00 Today is UK Halifax house price index at 7 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 neutral 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 signals.

Technical resistance levels: 1.6216 1.6340 1.6472

Technical support levels: 1.6153 1.6034 1.5900

Already made +22 pips profit on GBP/USD today from the following sent to clients only signal:

5:17 GMT+1 Sell GBP/USD at 1.6190 SL 1.6216 TP 1.6130, exit sent at 8:47 GMT+1.

Today so far +69, yesterday +65, as shown in details at http://www.zifx.com/performance-past.php.