25 Mar 2014
GBP/USD - next target is at 1.6450
FXStreet (Moscow) - GBP/USD is still in come around 1.65 touching 1.6479 low in the morning.
GBP/USD may reach 1.6450
The pair is still sleeping close to 1.65 area without any hint of positioning before the inflation data. It looks like the pound just waits to get a signal to break below the support line, and the CPI numbers may give the needed catalyst. If broken, we may see the move to 1.6450 right away, as no big barriers on the way down is rumored. Nevertheless, the mentioned target may trigger a mild rebound, as large buyers’ interest with stops below is noted.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6499, with support below at 1.6461, 1.6424, and 1.6386 with resistance above at 1.6536, 1.6574, and 1.6611. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6578, and the daily 20EMA bearish at 1.6593. Hourly RSI is neutral at 51.
GBP/USD may reach 1.6450
The pair is still sleeping close to 1.65 area without any hint of positioning before the inflation data. It looks like the pound just waits to get a signal to break below the support line, and the CPI numbers may give the needed catalyst. If broken, we may see the move to 1.6450 right away, as no big barriers on the way down is rumored. Nevertheless, the mentioned target may trigger a mild rebound, as large buyers’ interest with stops below is noted.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6499, with support below at 1.6461, 1.6424, and 1.6386 with resistance above at 1.6536, 1.6574, and 1.6611. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6578, and the daily 20EMA bearish at 1.6593. Hourly RSI is neutral at 51.