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19 Feb 2014
GBP/USD is nearing selling interest area
FXStreet (Barcelona) - GBP/USD is positively sure that the employment data surprise to the upside, and this notion helped the pair reach 1.6730 area by the moment.
The pound has good expectations
Judging by the pound behavior the market is waiting something very positive from UK Labor data scheduled for 9.30 GMT. Starting the day at 1.6682 the pair managed to recover yesterday’s losses rushing back to 1.6733 at the moment. Nevertheless the 1.6725/40 area is rumored to have selling interest, thus the move higher may be limited before the release of the numbers. If numbers meet the expectations or come out event better the next target is at 1.6780 followed by 1.6816.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6692, with support below at 1.6640, 1.6604 and 1.6552, with resistance above at 1.6728, 1.6780, and 1.6816. Hourly Moving Averages are bullish, with the 200SMA at 1.6556, and the daily 20EMA bullish at 1.6526. Hourly RSI is neutral at 50.
The pound has good expectations
Judging by the pound behavior the market is waiting something very positive from UK Labor data scheduled for 9.30 GMT. Starting the day at 1.6682 the pair managed to recover yesterday’s losses rushing back to 1.6733 at the moment. Nevertheless the 1.6725/40 area is rumored to have selling interest, thus the move higher may be limited before the release of the numbers. If numbers meet the expectations or come out event better the next target is at 1.6780 followed by 1.6816.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6692, with support below at 1.6640, 1.6604 and 1.6552, with resistance above at 1.6728, 1.6780, and 1.6816. Hourly Moving Averages are bullish, with the 200SMA at 1.6556, and the daily 20EMA bullish at 1.6526. Hourly RSI is neutral at 50.