2 May 2014
GBP/USD is back below 1.69
FXStreet (Moscow) - GBP/USD opened the day at 1.6891, and slowly moved lower reaching 1.6879 by the moment.
Construction PMI is not a market mover
After the recent disappointments from the UK Q1 GDP data the surprisingly strong Manufacturing PMI revived the hopes that speedy British recovery will pressure the BOE with faster pace of tightening. The released today Construction PMI will hardly trigger any market reactions, but still is interesting as another indicator of economy health. Strong numbers may support the mild rise of the pair with initial target at 1.6921.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6895, with support below at 1.6867, 1.6841, 1.6813 with resistance above at 1.6921, 1.6949, and 1.6975. Hourly Moving Averages are bullish, with the 200SMA at 1.6825, and the daily 20EMA bullish at 1.6778. Hourly RSI is bullish at 50.
Construction PMI is not a market mover
After the recent disappointments from the UK Q1 GDP data the surprisingly strong Manufacturing PMI revived the hopes that speedy British recovery will pressure the BOE with faster pace of tightening. The released today Construction PMI will hardly trigger any market reactions, but still is interesting as another indicator of economy health. Strong numbers may support the mild rise of the pair with initial target at 1.6921.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6895, with support below at 1.6867, 1.6841, 1.6813 with resistance above at 1.6921, 1.6949, and 1.6975. Hourly Moving Averages are bullish, with the 200SMA at 1.6825, and the daily 20EMA bullish at 1.6778. Hourly RSI is bullish at 50.