ZIFX.com GBP/USD Extends Gains Over 1.615

GBP/USD Open 1.6131 High 1.6168 Low 1.6067 Close 1.6128

On Wednesday Pound/Dollar continued increasing with almost 70 pips. The Cable appreciated from 1.6067 to 1.6137 yesterday, in line with the positive money flow sentiment at around +17%, closing the day at 1.6128. Today the British Pound lifted even further, climbing to 1.6168.

On the 1 hour chart the downward channel is turning into range trading, while on the 3 hour chart quotes are moving within wide range. First resistance is today's peak at 1.6168. Break above it should extend the bullish movement further towards 1.6300. The nearest support level is yesterday's bottom at 1.6067. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5945.

Today is UK CIPS manufacturing index at 9:30 GMT.

Quotes are moving above the twisted and close 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and rising too, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 1.6168 1.6300 1.6433
Technical support levels: 1.6067 1.5945 1.5810

Already made +40 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:17 GMT Buy GBP/USD at 1.6128 SL 1.6102 TP 1.6188, exit sent at 8:28 GMT.
Today so far +63, yesterday +155, as shown at our web site.

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