GBP/USD Commences Slim Recovery Attempts

GBP/USD Open 1.5687 High 1.5717 Low 1.5629 Close 1.5660

On Friday Pound/Dollar traded within 70 pip range. The Cable depreciated from 1.5700 to 1.5629 on Friday, in line with the negative money flow sentiment at bellow -17%, closing the week at 1.5660. Today the British Pound commenced a recovery, lifting up to 1.5717.

On the 1 hour chart the downward channel still looks good, while on the 3 hour chart wide range trading has formed. First resistance is today's peak at 1.5717. Break above it should extend the bullish movement further towards 1.5843. The nearest support level is Friday's bottom at 1.5629. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5500.

There are no major economic events for UK today.

Quotes are moving just above the crossed and close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is thinly positive and tranquil too, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.

Technical resistance levels: 1.5717 1.5843 1.5990
Technical support levels: 1.5629 1.5500 1.5376

Already made +16 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:17 GMT+1 Sell GBP/USD at 1.5707 SL 1.5733 TP 1.5647, exit sent at 8:30 GMT+1.
Today so far +58, on Friday +41, as shown at http://www.zifx.com/performance-past.php.