10 Jan 2014
GBP/USD is waiting for new catalysts and it will get it
FXstreet.com (Moscow) - GBP/USD spent the whole Asian session in tight ranges sitting above the central pivot point of the day (1.6474), and waiting for new catalysts.
GBP positions can be shaken
GBP looks stable, but today’s release of the US Non-Farm Payrolls may take it out of balance against USD. During the whole week we’ve monitored the leading indicators that will help us to forecast the employment levels. Both ISM employment components showed the rise, as well as ADP number. And the last piece of the puzzle we got yesterday – unemployment claims were better than expected, what means the US economy during the December could have added more than 200K jobs. If so, wait for the GBP/USD weakness with initial target at 1.6448 support level followed by 1.6416 in case of more significant rise.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6474, with support below at 1.6448 (S1), 1.6416 (S2) and 1.6390 (S3), with resistance above at 1.6506 (R1), 1.6532 (R2), and 1.6564 (R3). Hourly Moving Averages are largely bullish, with the 200SMA at 1.6466 and the daily 20EMA flat at 1.6414. Hourly RSI is neutral at 59.
GBP positions can be shaken
GBP looks stable, but today’s release of the US Non-Farm Payrolls may take it out of balance against USD. During the whole week we’ve monitored the leading indicators that will help us to forecast the employment levels. Both ISM employment components showed the rise, as well as ADP number. And the last piece of the puzzle we got yesterday – unemployment claims were better than expected, what means the US economy during the December could have added more than 200K jobs. If so, wait for the GBP/USD weakness with initial target at 1.6448 support level followed by 1.6416 in case of more significant rise.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6474, with support below at 1.6448 (S1), 1.6416 (S2) and 1.6390 (S3), with resistance above at 1.6506 (R1), 1.6532 (R2), and 1.6564 (R3). Hourly Moving Averages are largely bullish, with the 200SMA at 1.6466 and the daily 20EMA flat at 1.6414. Hourly RSI is neutral at 59.