1 May 2014
GBP/USD is above 1.69 finally helped by PMI
FXStreet (Moscow) - GBP/USD was treading water around 1.6880 right before the PMI release, and moved to 1.6918 high right after.
When the PMI is out
It was a quite morning in Europe until we got some more food for thought from the UK. The British Manufacturing PMI showed a prolong downtrend from last November, thus the April numbers brought some attention of the market on the back of weaker than expected GDP reading on Wednesday. The index came out much better than expected at 57.3 vs 55.4 expected, and it helped the pair to reach 1.6918 multi-year high. Now, the next target for the pair is at 1.6956 with a possibility of correction back to 1.6880.
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.
When the PMI is out
It was a quite morning in Europe until we got some more food for thought from the UK. The British Manufacturing PMI showed a prolong downtrend from last November, thus the April numbers brought some attention of the market on the back of weaker than expected GDP reading on Wednesday. The index came out much better than expected at 57.3 vs 55.4 expected, and it helped the pair to reach 1.6918 multi-year high. Now, the next target for the pair is at 1.6956 with a possibility of correction back to 1.6880.
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.