GBP/USD 1.6592 – 6 November 2009

GBP/USD Open 1.6567 High 1.6638 Low 1.6475 Close 1.6581
Pound/Dollar also climbed on Thursday, from the 1.6475 bottom to the 1.6638 peak, closing the day at 1.6581. On the 3 hour chart the formed triangle was technically broken upwards, indicating a potential strengthening of the bulls towards next objectives 1.6765, followed by 1.6900. The nearest support is yesterday’s bottom 1.6475. Break bellow in this zone may threaten the upward outlook, but our preferable scenario for now is ascending. The CCI indicator has crossed up the 100 line on the 1 hour chart, suggesting bullish perspectives.
Technical resistance levels: 1.6640 1.6765 1.6900
Technical support levels: 1.6475 1.6350 1.6205

Trading range: 1.6580 – 1.6655
Trend: Upward
Buy at 1.6592 SL 1.6562 TP 1.6642

Already made +37 pips profit on GBP/USD today from the following signal:
6:40 GMT+1 Buy GBP/USD at 1.6585 SL 1.6559 TP 1.6645 exited at 8:38 GMT
Today so far +81, yesterday +75, 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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