14 Apr 2014
GBP/USD is floating around 1.6730
FXStreet (Moscow) - GBP/USD spent the Asian morning in 20-pip range floating around 1.6730.
Retail sales dependence
Although the pound retreated from the recent highs, it still has the chance to come back, as today the market will be focused on US data. UK calendar is empty for Monday, thus we need to see worse than expected retail sales from the USA in order to reach initial target at 1.6776 resistance level. Given the absence of such a negative factor as bad weather that pressured the numbers from January and February, the market expects to see 0.8% growth this time, thus, only if we see the outcome higher than 1.0% may it pressure the pair further down to 1.6702 support level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6747, with support below at 1.6702, 1.6673, and 1.6628 with resistance above at 1.6776, 1.6821, and 1.6850. Hourly Moving Averages are mixed, with the 200SMA at 1.6677, and the daily 20EMA bullish at 1.6655. Hourly RSI is bearish at 44.
Retail sales dependence
Although the pound retreated from the recent highs, it still has the chance to come back, as today the market will be focused on US data. UK calendar is empty for Monday, thus we need to see worse than expected retail sales from the USA in order to reach initial target at 1.6776 resistance level. Given the absence of such a negative factor as bad weather that pressured the numbers from January and February, the market expects to see 0.8% growth this time, thus, only if we see the outcome higher than 1.0% may it pressure the pair further down to 1.6702 support level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6747, with support below at 1.6702, 1.6673, and 1.6628 with resistance above at 1.6776, 1.6821, and 1.6850. Hourly Moving Averages are mixed, with the 200SMA at 1.6677, and the daily 20EMA bullish at 1.6655. Hourly RSI is bearish at 44.