26 Mar 2014
GBP/USD is drifting lower to 1.65 area
FXStreet (Moscow) - GBP/USD was quite active for Asia trades starting at 1.6527 reaching session high at 1.6539, and sliding back to 1.6520 area at the moment.
GBP/USD may get some help from crosses
The pair stays calm, and even if it moves higher, the move is insignificant, as the sterling bulls understand that there is low potential of further pair rise. The main factor of rising demand on the cable is tighter monetary policy from the BOE, but given the tame inflation pressure, it is in no rush to change the monetary policy. Another factor to support the interest to the pound is a really strong economic data. And we haven’t got it enough so far. Thus, the upside of the pair may be limited so far by the resistance level at 1.6560, and to the downside the support comes at 1.6491.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6520, with support below at 1.6491, 1.6451, and 1.6422 with resistance above at 1.6560, 1.6589, and 1.6629. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6563, and the daily 20EMA bearish at 1.6587. Hourly RSI is neutral at 57.
GBP/USD may get some help from crosses
The pair stays calm, and even if it moves higher, the move is insignificant, as the sterling bulls understand that there is low potential of further pair rise. The main factor of rising demand on the cable is tighter monetary policy from the BOE, but given the tame inflation pressure, it is in no rush to change the monetary policy. Another factor to support the interest to the pound is a really strong economic data. And we haven’t got it enough so far. Thus, the upside of the pair may be limited so far by the resistance level at 1.6560, and to the downside the support comes at 1.6491.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6520, with support below at 1.6491, 1.6451, and 1.6422 with resistance above at 1.6560, 1.6589, and 1.6629. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6563, and the daily 20EMA bearish at 1.6587. Hourly RSI is neutral at 57.