7 Feb 2014
GBP/USD is on the way higher, provided good industrial data
FXStreet (Moscow) - GBP/USD was more agile than EUR/USD in the morning. It reached 1.6306 low at the start, and rebounded to 1.6337 by the moment.
The pound still has hope
The pound didn’t show any desire to react to anything what was going on around the euro, though it lost ground in the cross EUR/GBP. The disappointing data from services PMI slapped the currency, but it is still resilient waiting for another confirmation of slowing growth. Today’s industrial production data may give a breath of positive air, and in this case the pair may resume the rise. The initial target may be at 1.6361 resistance level, followed by 1.6394.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6316, with support below at 1.6283, 1.6238 and 1.6205, with resistance above at 1.6361, 1.6394, and 1.6439. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6428, and the daily 20EMA bearish at 1.6428. Hourly RSI is neutral at 57.
The pound still has hope
The pound didn’t show any desire to react to anything what was going on around the euro, though it lost ground in the cross EUR/GBP. The disappointing data from services PMI slapped the currency, but it is still resilient waiting for another confirmation of slowing growth. Today’s industrial production data may give a breath of positive air, and in this case the pair may resume the rise. The initial target may be at 1.6361 resistance level, followed by 1.6394.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6316, with support below at 1.6283, 1.6238 and 1.6205, with resistance above at 1.6361, 1.6394, and 1.6439. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6428, and the daily 20EMA bearish at 1.6428. Hourly RSI is neutral at 57.