GBP/USD Resumes Recovery, Breaking 1.59

GBP/USD Open 1.5849 High 1.5909 Low 1.5777 Close 1.5883

On Monday Pound/Dollar increased insignificantly with 55 pips. The Cable appreciated from 1.5849 to 1.5904 yesterday, in line with the positive money flow sentiment at almost over +17%, closing the day at 1.5883. Today the British Pound strengthened slightly further, reaching 1.5909.

On the 1 hour the upward channel is trying to resume, while on the 3 hour chart small angle upward channel has formed. First resistance is today's peak at 1.5909. Break above it should extend the bullish movement further towards 1.6035. The nearest support level is yesterday's bottom at 1.5849. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5725.

There are no major economic events for UK today.

Quotes are moving just above the 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 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: 1.5909 1.6035 1.6170
Technical support levels: 1.5849 1.5725 1.5590

Already made +18 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.5891 SL 1.5865 TP 1.5951, exit sent at 8:32 GMT+1.
Today so far +40, yesterday +59, as shown at http://www.zifx.com/performance-past.php.