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21 Feb 2014
GBP/USD reached 1.6684 but retraced back
FXStreet (Moscow) - GBP/USD is trading around 1.6670, after it met sellers’ interest around 1.6684 area.
Pound rises on positive vibrations
The pound got positive vibrations, as investors still have hope that UK data surprises to the upside. From the session low at 1.6635 the pair climbed up to 1.6684, but met sellers’ interest, and retraced to 1.6665 at the moment. The buyers rumored around 1.6640, thus the downside of the pound is limited by this level. The market is waiting for the British retail sales scheduled for release at 9.30 GMT. If numbers are better than expected, wait for the move higher with initial target at 1.6694.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6660, with support below at 1.6618, 1.6584 and 1.6542, with resistance above at 1.6694, 1.6736, and 1.6770. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6630, and the daily 20EMA bullish at 1.6552. Hourly RSI is neutral at 42.
Pound rises on positive vibrations
The pound got positive vibrations, as investors still have hope that UK data surprises to the upside. From the session low at 1.6635 the pair climbed up to 1.6684, but met sellers’ interest, and retraced to 1.6665 at the moment. The buyers rumored around 1.6640, thus the downside of the pound is limited by this level. The market is waiting for the British retail sales scheduled for release at 9.30 GMT. If numbers are better than expected, wait for the move higher with initial target at 1.6694.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6660, with support below at 1.6618, 1.6584 and 1.6542, with resistance above at 1.6694, 1.6736, and 1.6770. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6630, and the daily 20EMA bullish at 1.6552. Hourly RSI is neutral at 42.