6 May 2014
GBP/USD is above 1.6950 when PMI is out
FXStreet (Moscow) - GBP/USD reached 1.6949 high before the data release, and moved to 1.6952 right after the PMI.
Services PMI came out
The pound followed the euro strength supported by surprisingly high Spanish Services PMI, and it helped the pair reach another multi-year high at 1.6949, but still far away from August, 2009 peaks. The released minutes ago UK Services PMI came out much better than forecasted at 58.7 vs 57.6 expected. The data pushed the pair to 1.6952, and now the next target for the move is at 1.70 where large sellers’ demand is noted.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6870, with support below at 1.6851, 1.6835, 1.6816 with resistance above at 1.6886, 1.6905, and 1.6921. Hourly Moving Averages are bullish, with the 200SMA at 1.6838, and the daily 20EMA bullish at 1.6795. Hourly RSI is bullish at 67.
Services PMI came out
The pound followed the euro strength supported by surprisingly high Spanish Services PMI, and it helped the pair reach another multi-year high at 1.6949, but still far away from August, 2009 peaks. The released minutes ago UK Services PMI came out much better than forecasted at 58.7 vs 57.6 expected. The data pushed the pair to 1.6952, and now the next target for the move is at 1.70 where large sellers’ demand is noted.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6870, with support below at 1.6851, 1.6835, 1.6816 with resistance above at 1.6886, 1.6905, and 1.6921. Hourly Moving Averages are bullish, with the 200SMA at 1.6838, and the daily 20EMA bullish at 1.6795. Hourly RSI is bullish at 67.