2 Jun 2014
GBP/USD is very reserved after PMI data
FXStreet (Moscow) - GBP/USD practically ignored all the stress that came from the euro trading around 1.6760 just before the UK PMI release, and reaching 1.6723 low on data, though rebounded back very soon.
When all PMIs are out
The pound stayed calm before the release of the data, as the market focus was on the EMU data. The British activity in manufacturing came out at 57.0 as expected, but Mortgage Approvals disappointed a bit sending the pair to 1.6723 low initially. The release supported the view the British economy is in recovery, but some sectors are still fragile. For now the pair returned to 1.6740 area without any desire to move anywhere else yet.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6749, with support below at 1.6720, 1.6684, 1.6655 with resistance above at 1.6785, 1.6814, and 1.6850. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6810, and the daily 20EMA bearish at 1.6807. Hourly RSI is bearish at 49.
When all PMIs are out
The pound stayed calm before the release of the data, as the market focus was on the EMU data. The British activity in manufacturing came out at 57.0 as expected, but Mortgage Approvals disappointed a bit sending the pair to 1.6723 low initially. The release supported the view the British economy is in recovery, but some sectors are still fragile. For now the pair returned to 1.6740 area without any desire to move anywhere else yet.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6749, with support below at 1.6720, 1.6684, 1.6655 with resistance above at 1.6785, 1.6814, and 1.6850. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6810, and the daily 20EMA bearish at 1.6807. Hourly RSI is bearish at 49.