10 Apr 2014
GBP/USD drifting away FOMC gains
FXStreet (Guatemala) - Currently, GBP/USD is trading at 1.6783, down -0.05% on the day, having posted a daily high at 1.6822 and low at 1.6754.
GBP/USD is on the verge of giving back the gains made yesterday post the dovish FOMC minutes where the pair rallied from 1.6740 territory and claimed the 1.68 handle. This was short lived and the pair has been on a drift to the downside since. We now await the BoE this month, but strategists at TD Securities have pointed out that this month should be another non-event for the BoE. “The more interesting decision coming in May with the publication of the next Inflation Report”.
Daily RSI sits at 67.09, in neutral territory
Looking to momentum indicators, the hourly 200 SMA is currently at 1.6766, up from the last close at 1.6660 and climbing. Over the past 20 days, the exponential average closing price is 1.6633, and trending higher.
GBP/USD Levels
Spot is presently trading at 1.6785, and next resistance can be seen at 1.6788 (Weekly Classic R3), 1.6792 (Daily Open), 1.6793 (Monthly High), 1.6793 (Weekly High) and 1.6793 (Annual High). Next support to the downside can be found at 1.6778 (Hourly 20 EMA), 1.6772 (Daily Classic PP), 1.6754 (Daily Low), 1.6744 (Daily Classic S1) and 1.6737 (Weekly Classic R2).
GBP/USD is on the verge of giving back the gains made yesterday post the dovish FOMC minutes where the pair rallied from 1.6740 territory and claimed the 1.68 handle. This was short lived and the pair has been on a drift to the downside since. We now await the BoE this month, but strategists at TD Securities have pointed out that this month should be another non-event for the BoE. “The more interesting decision coming in May with the publication of the next Inflation Report”.
Daily RSI sits at 67.09, in neutral territory
Looking to momentum indicators, the hourly 200 SMA is currently at 1.6766, up from the last close at 1.6660 and climbing. Over the past 20 days, the exponential average closing price is 1.6633, and trending higher.
GBP/USD Levels
Spot is presently trading at 1.6785, and next resistance can be seen at 1.6788 (Weekly Classic R3), 1.6792 (Daily Open), 1.6793 (Monthly High), 1.6793 (Weekly High) and 1.6793 (Annual High). Next support to the downside can be found at 1.6778 (Hourly 20 EMA), 1.6772 (Daily Classic PP), 1.6754 (Daily Low), 1.6744 (Daily Classic S1) and 1.6737 (Weekly Classic R2).