GBP/USD 1.6524 – 17 September 2009

GBP/USD Open 1.6477 High 1.6555 Low 1.6433 Close 1.6486
On Wednesday Pound/Dollar traded hesitantly, forming divergence on the 3 hour chart. The Cable descended down to the 1.6433 bottom, from where it rose insignificantly, closing the day at 1.6486. Of the 3 hour chart the currency pair is still trading between 1.6125 and 1.7020. Signals are expected to be rising in the short term, and neutral in the medium term. Important support level is 1.6430, the break of which may weaken the Sterling further down to 1.6290. The nearest resistance is today’s top at 1.6555, the overcoming of which might trigger further bullish impulse with possible test of 1.6670. The CCI has crossed up the 100 line on the 1 hour chart, suggesting accumulated bullish pressure.
Technical resistance levels: 1.6555 1.6670 1.6800
Technical support levels: 1.6430 1.6290 1.6155

Trading range: 1.6510 – 1.6585
Trend: Upward
Buy at 1.6524 SL 1.6494 TP 1.6574

Already made +60 pips profit on GBP/USD today from the following signal:
5:35 GMT+1 Buy GBP/USD at 1.6492 SL 1.6466 TP 1.6552 TP reached at 7:33 GMT
Today so far +154, yesterday +136, as shown in details here.


Disclaimer: Please note that our technical analysis is not daily/evening forecast, neither a trading signal. Therefore the expectations shown here may differ from our forecasts and signals, to give readers different point of view.

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