GBP/USD Continues Recovering, Approaching 1.57

GBP/USD Open 1.5648 High 1.5694 Low 1.5580 Close 1.5650

On Wednesday Pound/Dollar continued the down and up scenario, decreasing with almost 90 pips. The Cable depreciated from 1.5669 to 1.5580 yesterday, in converse with the positive money flow sentiment at above 19%, closing the day at 1.5650. Today the British Pound commenced a recovery, lifting up to 1.5694.

On the 1 hour chart range trading has formed, while on the 3 hour chart quotes are moving within wider range. First resistance is today's peak at 1.5694. Break above it should extend the bullish movement further towards 1.5820. The nearest support level is yesterday's bottom at 1.5580. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5456.

Today are UK Retail sales at 8:30 GMT.

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

Technical resistance levels: 1.5694 1.5820 1.5956
Technical support levels: 1.5580 1.5456 1.5320

Already made +13 pips profit/loss on GBP/USD today from the following sent to clients only signal:
8:07 GMT+1 Buy GBP/USD at 1.5681 SL 1.5655 TP 1.5741, exit sent at 8:20 GMT+1.
Today so far +64, yesterday +168, as shown at http://www.zifx.com/performance-past.php.