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11 Jun 2014
GBP/USD recovered from Asian lows, waiting for UK data
FXStreet (Moscow) - GBP/USD opened the day at 1.6754 slid to 1.6737 in order to reverse the move again; it is trading at 1.6752 at the moment.
Half-hearted indifference
And again the British data saves the day from pathetic trades with unenthusiastic currency moves. The labor market is very important for the BOE as this is the place where it sees some “spare capacity” that prevents the regulator from switching to tightening mode. Thus, the market will pay specific attention to the levels of average earnings, days worked, and claimant count. Any hints on further recovery with higher when expected pace may throw the pair back to the nearest resistance at 1.6802.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6773, with support below at 1.6727, 1.6698, 1.6652 with resistance above at 1.6802, 1.6848, and 1.6877. Hourly Moving Averages are bearish, with the 200SMA at 1.6765, and the daily 20EMA flat at 1.6791. Hourly RSI is bearish at 36.
Half-hearted indifference
And again the British data saves the day from pathetic trades with unenthusiastic currency moves. The labor market is very important for the BOE as this is the place where it sees some “spare capacity” that prevents the regulator from switching to tightening mode. Thus, the market will pay specific attention to the levels of average earnings, days worked, and claimant count. Any hints on further recovery with higher when expected pace may throw the pair back to the nearest resistance at 1.6802.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6773, with support below at 1.6727, 1.6698, 1.6652 with resistance above at 1.6802, 1.6848, and 1.6877. Hourly Moving Averages are bearish, with the 200SMA at 1.6765, and the daily 20EMA flat at 1.6791. Hourly RSI is bearish at 36.