ZIFX.com GBP/USD Uptrend Limited By 1.6145 Resistance

GBP/USD Open 1.6119 High 1.6146 Low 1.6025 Close 1.6116

On Thursday Pound/Dollar continued increasing with 120 pips. The Cable appreciated from 1.6025 to 1.6146 yesterday, in line with the positive money flow sentiment at nearly +26%, closing the day at 1.6116. Today the British Pound is trading quietly, with movements at the upper end of yesterday's range for the time being.

On the 1 hour chart range trading is forming, while on the 3 hour chart quotes are moving within wide range. First resistance is yesterday's peak at 1.60614677. Break above it should extend the bullish movement further towards 1.6269. The nearest support level is yesterday's bottom at 1.6025. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5900.

There are no major economic events for UK today.

Quotes are moving above the crossing and close 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is negative and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.6146 1.6269 1.6400
Technical support levels: 1.6025 1.5900 1.5764

Already made +6 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.6117 SL 1.6091 TP 1.6177, exit sent at 5:30 GMT+1.
Today so far +27, yesterday +170, as shown at our web site.

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