GBP/USD 1.6821 – 17 November 2009

GBP/USD Open 1.6834 High 1.6868 Low 1.6672 Close 1.6817
Pound/Dollar continued its bullish movement on Monday, climbing up to the 1.6868 top, closing the day at 1.6817. We expect the bulls to remain dominating with targets towards the psychological 1.7000 resistance, and possible test of 1.7140. Break above this level may strengthen the Cable further and lead it towards next potential objective 1.7300. The nearest support is yesterday’s bottom 1.6670, the break of which may might bring threat to the bullish perspectives, especially if quotes drown down to 1.6530. The CCI indicator is about to cross up the 100 line on the 1 hour chart, suggesting bullish pressure.
Technical resistance levels: 1.6870 1.7000 1.7140
Technical support levels: 1.6670 1.6530 1.6380

Trading range: 1.6810 – 1.6885
Trend: Upward
Buy at 1.6821 SL 1.6791 TP 1.6871

Already made +42 pips profit on GBP/USD today from the following signal:
5:42 GMT+1 Buy GBP/USD at 1.6822 SL 1.6796 TP 1.6882 exited at 7:56 GMT
Today so far +109, yesterday +126, 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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