28 Apr 2014
GBP/USD broke above 1.6820 resistance on Pfizer news
FXStreet (Moscow) - GBP/USD opened the day at 1.6802, moved lower to 1.6776, but rebounded back posting 1.6830 high at the moment.
M&A flows again support the pound
We already got rumors last week about the possibility of the US pharms giant Pfizer making a bid for UK’s AstraZeneca, and today it was confirmed. The amount of the deal is not known for now, however, the transaction may have positive impact on GBP/USD as will bring large demand on the British currency. For now the pair broke above 1.6820, posted 1.6830 high, and may continue the move with initial target at 1.6850.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6808, with support below at 1.6783, 1.6766, 1.6741 with resistance above at 1.6825, 1.6850, and 1.6867. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6796, and the daily 20EMA bullish at 1.6740. Hourly RSI is bearish at 41.
M&A flows again support the pound
We already got rumors last week about the possibility of the US pharms giant Pfizer making a bid for UK’s AstraZeneca, and today it was confirmed. The amount of the deal is not known for now, however, the transaction may have positive impact on GBP/USD as will bring large demand on the British currency. For now the pair broke above 1.6820, posted 1.6830 high, and may continue the move with initial target at 1.6850.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6808, with support below at 1.6783, 1.6766, 1.6741 with resistance above at 1.6825, 1.6850, and 1.6867. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6796, and the daily 20EMA bullish at 1.6740. Hourly RSI is bearish at 41.