14 Apr 2014
GBP/USD is testing 1.6620 support area
FXStreet (Moscow) - GBP/USD came closer to weekly lows around 1.6620 area posting 1.6717 session low.
To fall, or not to fall – that’s the question
Although the euro came under pressure from the ECB officials’ dovish rhetoric, the pound stays calm, and trades around weekly lows. The negative stock market opening didn’t impress the pair, however, the growing geopolitical tensions may push the cable down in the nearest hours. The initial target in this case is at 1.67 support area where large buyers’ interest is noted, and 1.6650 will be even harder to break, as stops are rumored below.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6747, with support below at 1.6702, 1.6673, and 1.6628 with resistance above at 1.6776, 1.6821, and 1.6850. Hourly Moving Averages are mixed, with the 200SMA at 1.6677, and the daily 20EMA bullish at 1.6655. Hourly RSI is bearish at 44.
To fall, or not to fall – that’s the question
Although the euro came under pressure from the ECB officials’ dovish rhetoric, the pound stays calm, and trades around weekly lows. The negative stock market opening didn’t impress the pair, however, the growing geopolitical tensions may push the cable down in the nearest hours. The initial target in this case is at 1.67 support area where large buyers’ interest is noted, and 1.6650 will be even harder to break, as stops are rumored below.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6747, with support below at 1.6702, 1.6673, and 1.6628 with resistance above at 1.6776, 1.6821, and 1.6850. Hourly Moving Averages are mixed, with the 200SMA at 1.6677, and the daily 20EMA bullish at 1.6655. Hourly RSI is bearish at 44.