6 Jun 2014
GBP/USD is back above 1.68, stuck somewhere around
FXStreet (Moscow) - GBP/USD opened the day at 1.6817, lost about 10 pips, and is trading calmly around 1.6810 area.
Reasons to move
The recent strength of the cable is rooted in the improvement in risk appetite triggered by the ECB decision to ease monetary policy additionally. Besides, the moves of EUR/GBP cross supported the demand on the pound. As for the Bank of England meeting, policymakers preferred to keep silence as usually, thus, giving the pair no reasons to move. Today the Britain release trade data, but most probably the pair will ignore it given the market focus on Non-Farm Payrolls. The upside may be limited by the resistance at 1.6857, and the downside brings 1.6753 support to the agenda.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6789, with support below at 1.6753, 1.6685, 1.6649 with resistance above at 1.6857, 1.6893, and 1.6961. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6761, and the daily 20EMA flat at 1.6793. Hourly RSI is bullish at 66.
Reasons to move
The recent strength of the cable is rooted in the improvement in risk appetite triggered by the ECB decision to ease monetary policy additionally. Besides, the moves of EUR/GBP cross supported the demand on the pound. As for the Bank of England meeting, policymakers preferred to keep silence as usually, thus, giving the pair no reasons to move. Today the Britain release trade data, but most probably the pair will ignore it given the market focus on Non-Farm Payrolls. The upside may be limited by the resistance at 1.6857, and the downside brings 1.6753 support to the agenda.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6789, with support below at 1.6753, 1.6685, 1.6649 with resistance above at 1.6857, 1.6893, and 1.6961. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6761, and the daily 20EMA flat at 1.6793. Hourly RSI is bullish at 66.