1 May 2014
GBP/USD took a target above 1.69
FXStreet (Moscow) - GBP/USD opened the day at 1,6870, and followed the EUR/USD move posting 1.6890 session high by the moment.
Multi-year highs
The pair refreshed multi-year highs not seen from November, 2009, and targeted new ones from August, 2009 above 1.70. The pound was happy to see weak numbers from US Q1 GDP confirming the status of the UK as the economy with the fastest pace of recovery among G7 countries. Today we will get Manufacturing PMI index that may give additional boost to the pair in case it exceeds the forecasts. The numbers has shown 4 months of slide in a row from November highs, and probably it’s time to resume the rise again. Strong readings may push the pair higher with initial target at 1.6915 resistance.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6860, with support below at 1.6819, 1.6764, 1.6723 with resistance above at 1.6915, 1.6956, and 1.7011. Hourly Moving Averages are bullish, with the 200SMA at 1.6814, and the daily 20EMA bullish at 1.6867. Hourly RSI is bullish at 62.
Multi-year highs
The pair refreshed multi-year highs not seen from November, 2009, and targeted new ones from August, 2009 above 1.70. The pound was happy to see weak numbers from US Q1 GDP confirming the status of the UK as the economy with the fastest pace of recovery among G7 countries. Today we will get Manufacturing PMI index that may give additional boost to the pair in case it exceeds the forecasts. The numbers has shown 4 months of slide in a row from November highs, and probably it’s time to resume the rise again. Strong readings may push the pair higher with initial target at 1.6915 resistance.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6860, with support below at 1.6819, 1.6764, 1.6723 with resistance above at 1.6915, 1.6956, and 1.7011. Hourly Moving Averages are bullish, with the 200SMA at 1.6814, and the daily 20EMA bullish at 1.6867. Hourly RSI is bullish at 62.