4 Apr 2014
GBP/USD rebounds from 1.6576 low. Bored
FXStreet (Moscow) - Currently, GBP/USD is bored trading at 1.6594, down -0.01% on the day, having posted a daily high at 1.6601 and low at 1.6576.
Pound’s fate in hands of the NFP
The divergence in the FED and the BOE monetary course should encourage investors to cut their long positions, at least for now. The potential for a deeper correction of the pound is rooted in today’s US labor data, and strong employment level around +250K may send the pair below 1.65 with initial target at 1.6467. As for the technical picture, the FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish. Currently RSI is at 55.06, up from the last hourly print at 39.80, with ADX at 16.30, down from its previous close at 20.56. Daily RSI sits at 49.66, in neutral territory. Looking to momentum indicators, the hourly 200 SMA is currently at 1.6615, up from the last close at 1.6602 and climbing. Over the past 20 days, the exponential average closing price is 1.6605, and ranging.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6610, with support below at 1.6559, 1.6518, and 1.6467 with resistance above at 1.6651, 1.6702, and 1.6743. Hourly Moving Averages are bearish, with the 200SMA at 1.6601, and the daily 20EMA flat at 1.6605. Hourly RSI is neutral at 38.
Pound’s fate in hands of the NFP
The divergence in the FED and the BOE monetary course should encourage investors to cut their long positions, at least for now. The potential for a deeper correction of the pound is rooted in today’s US labor data, and strong employment level around +250K may send the pair below 1.65 with initial target at 1.6467. As for the technical picture, the FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish. Currently RSI is at 55.06, up from the last hourly print at 39.80, with ADX at 16.30, down from its previous close at 20.56. Daily RSI sits at 49.66, in neutral territory. Looking to momentum indicators, the hourly 200 SMA is currently at 1.6615, up from the last close at 1.6602 and climbing. Over the past 20 days, the exponential average closing price is 1.6605, and ranging.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6610, with support below at 1.6559, 1.6518, and 1.6467 with resistance above at 1.6651, 1.6702, and 1.6743. Hourly Moving Averages are bearish, with the 200SMA at 1.6601, and the daily 20EMA flat at 1.6605. Hourly RSI is neutral at 38.