5 Dec 2013
GBP/USD shuffles higher ahead of BoE meet
FXstreet.com (Barcelona) - FXstreet.com (Barcelona) - On a largely uneventful overnight session for ="">GBP/USD, the pair posted a low at 1.6370, before gently climbing into the European open to post a high at 1.6404, before retracing to 1.6393 where it is presently trading up 0.07% on the day.
GBP/USD capped at 1.6400 ahead of BoE and Chancellor budget update
GBP/USD was disappointed by the November services PMI yesterday and saw some of its gains shaved. Eyes will be looking ahead to therong>BoE meet with expectations for the Old Lady of Threadneedle Street to hold interest rates and asset purchases. Chancellor Osborne’s pending budget update is expected to announce a further £3 billion of fresh government spending cuts.
What are today’s key GBP/USD levels?
Hourly RSI sits at 69 and moving with upward momentum. The hourly 200 SMA sits at 1.6307 and is bullish, and the daily 20 EMA sits at 1.6219 and is also bullish. The daily pivot point can be found at 1.6371, with support below at 1.6338 (S1), 1.6292 (S2) and 1.6259 (S3), and resistance above at 1.6417 (R1), 1.6450 (R2) and 1.6496 (R3). Special attention should be paid to the price range between 1.6395-6361 where several key levels are clustered today.
GBP/USD capped at 1.6400 ahead of BoE and Chancellor budget update
GBP/USD was disappointed by the November services PMI yesterday and saw some of its gains shaved. Eyes will be looking ahead to the
What are today’s key GBP/USD levels?
Hourly RSI sits at 69 and moving with upward momentum. The hourly 200 SMA sits at 1.6307 and is bullish, and the daily 20 EMA sits at 1.6219 and is also bullish. The daily pivot point can be found at 1.6371, with support below at 1.6338 (S1), 1.6292 (S2) and 1.6259 (S3), and resistance above at 1.6417 (R1), 1.6450 (R2) and 1.6496 (R3). Special attention should be paid to the price range between 1.6395-6361 where several key levels are clustered today.