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18 Apr 2014
GBP/USD is more alive than dead - back around 1.6790
FXStreet (Moscow) - Currently, GBP/USD opened the day at 1.6792 slid to 1.6773 session low, and rebounded to 1.6790 area by the moment.
The pound may show more
The pound was more agile than the euro in the morning. The good mix of two factors – strong UK data and dovish Yellen stance – is the best environment for the pair to rise. The absence of large part of traders due to Easter holidays may be a temporary barrier on the way to new multi-year highs. As soon as most market participants realize that chances the BOE will outrun the FED with the timing of rate increase, are growing, we may see the impressive move of the pound higher above 1.70 area. As for today, the initial support comes at 1.6772, and the resistance limits the upside at 1.6830.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6808, with support below at 1.6772, 1.6750, 1.6714 with resistance above at 1.6830, 1.6866, and 1.6888. Hourly Moving Averages are mixed, with the 200SMA at 1.6751, and the daily 20EMA bullish at 1.6692. Hourly RSI is bearish at 45.
The pound may show more
The pound was more agile than the euro in the morning. The good mix of two factors – strong UK data and dovish Yellen stance – is the best environment for the pair to rise. The absence of large part of traders due to Easter holidays may be a temporary barrier on the way to new multi-year highs. As soon as most market participants realize that chances the BOE will outrun the FED with the timing of rate increase, are growing, we may see the impressive move of the pound higher above 1.70 area. As for today, the initial support comes at 1.6772, and the resistance limits the upside at 1.6830.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6808, with support below at 1.6772, 1.6750, 1.6714 with resistance above at 1.6830, 1.6866, and 1.6888. Hourly Moving Averages are mixed, with the 200SMA at 1.6751, and the daily 20EMA bullish at 1.6692. Hourly RSI is bearish at 45.