13 May 2014
GBP/USD has its target - 1.69
FXStreet (Moscow) - GBP/USD started the day at 1.6866, reached 1.6882 high, and retreated to 1.6870 area at the moment.
Pound may take a pause, a short one
The pair slowly drifted higher in Asia, attempting to break 1.6880 resistance. The move up is rumored to be related to GBP/JPY buying by Asian investors, and it confirmed by the fact there was no continuation in Europe. Although the pair may take a pause on Tuesday due to absence of any market moving economic data from the UK, the pound is still destined to become the star of this week given the scheduled for Wednesday Inflation Report and Labor data. The 1.69 resistance level stays intact for now, however, there area chances to see the breakout by the end of the day, when the market starts loading the long positions before the key events of the week.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6872, with support below at 1.6840, 1.6812, 1.6780 with resistance above at 1.6900, 1.6932, and 1.6960. Hourly Moving Averages are mixed, with the 200SMA at 1.6906, and the daily 20EMA bullish at 1.6840. Hourly RSI is bullish at 52.
Pound may take a pause, a short one
The pair slowly drifted higher in Asia, attempting to break 1.6880 resistance. The move up is rumored to be related to GBP/JPY buying by Asian investors, and it confirmed by the fact there was no continuation in Europe. Although the pair may take a pause on Tuesday due to absence of any market moving economic data from the UK, the pound is still destined to become the star of this week given the scheduled for Wednesday Inflation Report and Labor data. The 1.69 resistance level stays intact for now, however, there area chances to see the breakout by the end of the day, when the market starts loading the long positions before the key events of the week.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6872, with support below at 1.6840, 1.6812, 1.6780 with resistance above at 1.6900, 1.6932, and 1.6960. Hourly Moving Averages are mixed, with the 200SMA at 1.6906, and the daily 20EMA bullish at 1.6840. Hourly RSI is bullish at 52.