9 Apr 2014
GBP/USD flat ahead of FOMC minutes
FXStreet (Córdoba) - The GBP/USD entered in a consolidation phase after hitting a fresh 1-month high during the New York session.
The GBP/USD climbed to a fresh high of 1.6764 but momentum faltered, sending the pair back to opening levels. The GBP/USD has fallen to fresh session lows in the vicinity of 1.6730 as investors' await the release of FOMC minutes. Fed minutes are not typically a market moving event, but they will be closely watched for clues on the timing Fed members consider appropriate to start hiking interest rates.
GBP/USD levels to watch
Currently, GBP/USD is trading at 1.6736, virtually unchanged on the day. If the GBP/USD breaks above 1.6764 (daily high), next resistances are seen at 1.6785 (Mar 7 high), 1.6800 (psychological level) and 1.6822 (2014 high). On the downside, supports could be found at 1.6724 (Daily Low), 1.6700 (psychological level) and 1.6642 (100-hour SMA).
The GBP/USD climbed to a fresh high of 1.6764 but momentum faltered, sending the pair back to opening levels. The GBP/USD has fallen to fresh session lows in the vicinity of 1.6730 as investors' await the release of FOMC minutes. Fed minutes are not typically a market moving event, but they will be closely watched for clues on the timing Fed members consider appropriate to start hiking interest rates.
GBP/USD levels to watch
Currently, GBP/USD is trading at 1.6736, virtually unchanged on the day. If the GBP/USD breaks above 1.6764 (daily high), next resistances are seen at 1.6785 (Mar 7 high), 1.6800 (psychological level) and 1.6822 (2014 high). On the downside, supports could be found at 1.6724 (Daily Low), 1.6700 (psychological level) and 1.6642 (100-hour SMA).