GBP/USD Slips Under 1.56 This Morning

GBP/USD Open 1.5595 High 1.5734 Low 1.5576 Close 1.5587

On Thursday Pound/Dollar decreased significantly with 160 pips. The Cable depreciated from 1.5734 to 1.5576 yesterday, in converse with the positive money flow sentiment at almost 22%, closing the day at 1.5587. Today the British Pound is trading quietly, with movements at the lower end of yesterday's range for the time being.

On the 1 hour chart small upward channel has emerged, while on the 3 hour chart range trading is forming. First resistance is yesterday's peak at 1.5734. Break above it should extend the bullish movement further towards 1.5860. The nearest support level is yesterday's bottom at 1.5576. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5450.

There are no major economic events for UK today.

Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm, MACD is positive and tranquil, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.

Technical resistance levels: 1.5734 1.5860 1.6000
Technical support levels: 1.5576 1.5450 1.5316

Already made +30 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:14 GMT+1 Sell GBP/USD at 1.5614 SL 1.5640 TP 1.5554, exit sent at 8:04 GMT+1.
Today so far +120, yesterday +134, as shown at http://www.zifx.com/performance-past.php.