6 Mar 2014
GBP/USD stays at 1,6715, looks for the clues
FXStreet (Moscow) - http://www.fxstreet.com/technical-studies/currencies/gbpusd/">GBP/USD is confined to narrow 20-pip range 1.6707-1.6727, still without a fuel to define a direction.
GBP doesn’t want to see any MPC
The pair now has the hope, and though the BOE rate decision will hardly trigger any market tremble, the investors understand that the UK will be one of the first among G7 to start tightening again. The recent Services PMI only supports the idea of strong GDP growth this quarter, and this hope will keep the pound on demand. Since there are no key catalysts from UK for today, the pair may follow the moves of EUR/USD. The downside is limited by 1.6667support level, and the upside – by1.6755.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6705, with support below at 1.6667, 1.6617 and 1.6579, with resistance above at 1.6755, 1.6793, and 1.6843. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6682, and the daily 20EMA bullish at 1.6630. Hourly RSI is neutral at 46.
GBP doesn’t want to see any MPC
The pair now has the hope, and though the BOE rate decision will hardly trigger any market tremble, the investors understand that the UK will be one of the first among G7 to start tightening again. The recent Services PMI only supports the idea of strong GDP growth this quarter, and this hope will keep the pound on demand. Since there are no key catalysts from UK for today, the pair may follow the moves of EUR/USD. The downside is limited by 1.6667support level, and the upside – by1.6755.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6705, with support below at 1.6667, 1.6617 and 1.6579, with resistance above at 1.6755, 1.6793, and 1.6843. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6682, and the daily 20EMA bullish at 1.6630. Hourly RSI is neutral at 46.