15 Jul 2014
BRC pressured GBP/USD, and CPI may do even more
FXStreet (Moscow) - GBP/USD opened the day at 1.7081, tried to move higher, but tumbled, and slid to 1.7060 2-week low.
The first of the two
Morning BRC data came out below expectations pressuring the pound, however, there are more catalysts ahead. Today we will get the first important report of the week from the UK. The release of the CPI data may be of interest because the BOE monitors the numbers when making decisions on monetary policy. The inflation is still contained that means the regulator has the argument in favor of delayed tightening. If readings come up below expectations, it may put the pound under the pressure, and send the pair to 1.7024 support level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.7099, with support below at 1.7054, 1.7024, and 1.6979 with resistance above at 1.7129, 1.7174, and 1.7204. Hourly Moving Averages are largely bearish, with the 200SMA at 1.7132, and the daily 20EMA bullish at 1.7067. Hourly RSI is bearish at 42.
The first of the two
Morning BRC data came out below expectations pressuring the pound, however, there are more catalysts ahead. Today we will get the first important report of the week from the UK. The release of the CPI data may be of interest because the BOE monitors the numbers when making decisions on monetary policy. The inflation is still contained that means the regulator has the argument in favor of delayed tightening. If readings come up below expectations, it may put the pound under the pressure, and send the pair to 1.7024 support level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.7099, with support below at 1.7054, 1.7024, and 1.6979 with resistance above at 1.7129, 1.7174, and 1.7204. Hourly Moving Averages are largely bearish, with the 200SMA at 1.7132, and the daily 20EMA bullish at 1.7067. Hourly RSI is bearish at 42.