13 Feb 2014
GBP/USD doubled the force attacking 1.6630
FXStreet (Moscow) - GBP/USD is working on 1.6630 resistance where sell orders are sitting.
GBP/USD is busy and important
The pair is testing the nearest area of resistance gaining support from fundamental and technical picture. According to the last CFTC IMM report, speculators have reduced long sterling positions, and it was before Inflation Report which could trigger new wave of demand from investors. If the breakout above the selling interest at 1.6630 is done, we may see a move higher with initial target at 1.6655 followed by 1.6717.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6540, with support below at 1.6478, 1.6363 and 1.6301, with resistance above at 1.6655, 1.6717, and 1.6832. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6386, and the daily 20EMA flat at 1.6443. Hourly RSI is neutral at 70.
GBP/USD is busy and important
The pair is testing the nearest area of resistance gaining support from fundamental and technical picture. According to the last CFTC IMM report, speculators have reduced long sterling positions, and it was before Inflation Report which could trigger new wave of demand from investors. If the breakout above the selling interest at 1.6630 is done, we may see a move higher with initial target at 1.6655 followed by 1.6717.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6540, with support below at 1.6478, 1.6363 and 1.6301, with resistance above at 1.6655, 1.6717, and 1.6832. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6386, and the daily 20EMA flat at 1.6443. Hourly RSI is neutral at 70.