29 May 2014
GBP/USD is back home at 1.6740
FXStreet (Moscow) - GBP/USD showed some volatility plunging to 1.6692 morning low on European open, and surging back to 1.6737 at the moment following the EUR/USD moves.
Thin trades and end month flows
End of the month flows and thin market conditions are rumored to back the current volatility we see in European markets. The pound is supported by large interest of buyers around 1.67 area, although 1.6750, and even more around 1.6775 is rumored to gather some sellers’ demand. We may see even more volatility ahead given that half of Europe is on a bank holiday today.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6741, with support below at 1.6666, 1.6621, 1.6546 with resistance above at 1.6786, 1.6861, and 1.6906. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6831, and the daily 20EMA bearish at 1.6822. Hourly RSI is bearish at 39.
Thin trades and end month flows
End of the month flows and thin market conditions are rumored to back the current volatility we see in European markets. The pound is supported by large interest of buyers around 1.67 area, although 1.6750, and even more around 1.6775 is rumored to gather some sellers’ demand. We may see even more volatility ahead given that half of Europe is on a bank holiday today.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6741, with support below at 1.6666, 1.6621, 1.6546 with resistance above at 1.6786, 1.6861, and 1.6906. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6831, and the daily 20EMA bearish at 1.6822. Hourly RSI is bearish at 39.