4 Feb 2014
GBP/USD goes deep sea
FXStreet (Moscow) - GBP/USD is still under pressure reaching session low at 1.6256 from 1.6304 at the open.
PMI – the second time is the charm?
GBP/USD was consolidating around 1.6300 in the morning, but lost some ground in the Tokyo afternoon reaching 1.6256, and rebounding to 1.6280 at the moment of writing. The pound gets more and more negative surprises from national economy what makes some traders think the British economy peaked during the last quarter, and now only the slowing is in store. Thus, no wonder, the market will pay close attention to every piece of data. Today, Construction PMI is scheduled for release, and another disappointment only exacerbate the pressure on the pair. The initial target in this case may be at 1.6250 support level. Should the PMI brings some positive surprises, the move up will be limited by 1.6403 resistance level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6346, with support below at 1.6250, 1.6193 and 1.6097, with resistance above at 1.6403, 1.6499 (R2), and 1.6556. Hourly Moving Averages are bearish, with the 200SMA at 1.6523, and the daily 20EMA bearish at 1.6465. Hourly RSI is neutral at 29.
PMI – the second time is the charm?
GBP/USD was consolidating around 1.6300 in the morning, but lost some ground in the Tokyo afternoon reaching 1.6256, and rebounding to 1.6280 at the moment of writing. The pound gets more and more negative surprises from national economy what makes some traders think the British economy peaked during the last quarter, and now only the slowing is in store. Thus, no wonder, the market will pay close attention to every piece of data. Today, Construction PMI is scheduled for release, and another disappointment only exacerbate the pressure on the pair. The initial target in this case may be at 1.6250 support level. Should the PMI brings some positive surprises, the move up will be limited by 1.6403 resistance level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6346, with support below at 1.6250, 1.6193 and 1.6097, with resistance above at 1.6403, 1.6499 (R2), and 1.6556. Hourly Moving Averages are bearish, with the 200SMA at 1.6523, and the daily 20EMA bearish at 1.6465. Hourly RSI is neutral at 29.