26 May 2014
GBP/USD bulls are on the offensive
FXStreet (Moscow) - GBP/USD tested the resistance of 1.6850, having recovered from the Asian low of 1.6825
GBP/USD is trying to develop the upside correction, though the trading activity is low due to Spring Bank Holiday in UK. Drahgi sounded rather dovish, which pushed the single currency slightly lower against GBP and affected GBP/USD movements. Later during the day the pair will be influenced mostly by technical and speculative factors as macro economic calendar is next to empty. Strong resistance at 1.6855 is likely to cap the intraday upside, while the downside will be limited by 1.6820.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6840, with support below at 1.6804, 1.6775, and 1.6739 with resistance above at 1.6869, 1.6905, and 1.6935. Hourly Moving Averages are mixed, with the 200SMA at 1.6829, and the daily 20EMA flat at 1.6836. Hourly RSI is bearish at 42.
GBP/USD is trying to develop the upside correction, though the trading activity is low due to Spring Bank Holiday in UK. Drahgi sounded rather dovish, which pushed the single currency slightly lower against GBP and affected GBP/USD movements. Later during the day the pair will be influenced mostly by technical and speculative factors as macro economic calendar is next to empty. Strong resistance at 1.6855 is likely to cap the intraday upside, while the downside will be limited by 1.6820.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6840, with support below at 1.6804, 1.6775, and 1.6739 with resistance above at 1.6869, 1.6905, and 1.6935. Hourly Moving Averages are mixed, with the 200SMA at 1.6829, and the daily 20EMA flat at 1.6836. Hourly RSI is bearish at 42.