28 May 2014
GBP/USD posts 2-week low at European open
FXStreet (Moscow) - GBP/USD is trading at 1.6808, reached local high at 1.6814, and slid below 1.68 area at the moment.
New opportunities for bulls
The pound came under pressure due to a mixture of factors – the delay in Pfizer deal that could have triggered some reduction of bids, and the worse than expected mortgage approvals released yesterday that questions the housing market recovery. The pair failed to come back above the resistance at 1.6820, and slid to 1.6769 not seen from May, 15 on disappointment. Nevertheless, the lower the pair the more attractive it is for bull-fans, thus, every move down may be followed by a short-term recovery. If so, we may see the move higher with initial target at 1.6825 resistance level even on the back of practically empty economic calendar.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6825, with support below at 1.6767, 1.6724, 1.6666 with resistance above at 1.6868, 1.6926, and 1.6969. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6838, and the daily 20EMA flat at 1.6834. Hourly RSI is bearish at 43.
New opportunities for bulls
The pound came under pressure due to a mixture of factors – the delay in Pfizer deal that could have triggered some reduction of bids, and the worse than expected mortgage approvals released yesterday that questions the housing market recovery. The pair failed to come back above the resistance at 1.6820, and slid to 1.6769 not seen from May, 15 on disappointment. Nevertheless, the lower the pair the more attractive it is for bull-fans, thus, every move down may be followed by a short-term recovery. If so, we may see the move higher with initial target at 1.6825 resistance level even on the back of practically empty economic calendar.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6825, with support below at 1.6767, 1.6724, 1.6666 with resistance above at 1.6868, 1.6926, and 1.6969. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6838, and the daily 20EMA flat at 1.6834. Hourly RSI is bearish at 43.