9 Jul 2014
GBP/USD was slightly depressed by Halifax data
FXStreet (Moscow) - GBP/USD made a sharp turnaround after reaching 1.7145 session high, and ran down to 1.7110 area at the moment.
Up and down
The pound move lower coincided with the release of the weaker than expected UK Halifax house prices that showed the fall by 0.6% in June vs -0.3% expected. The report usually doesn’t trigger much reaction in the currency; however, on the back of empty calendar, and some hopes that housing bubble may push the BOE to speed up the rate hike era, it had some impact on the pound. Currently the pair is coming closer to 1.71 area, where large buyers’ interest is noted, thus, the rebound back up to 1.7150 is not ruled out again from here.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.7122, with support below at 1.7096, 1.7058, and 1.7032 with resistance above at 1.7160, 1.7186, and 1.7224. Hourly Moving Averages are mixed, with the 200SMA at 1.7115, and the daily 20EMA flat at 1.7042. Hourly RSI is bullish at 50.
Up and down
The pound move lower coincided with the release of the weaker than expected UK Halifax house prices that showed the fall by 0.6% in June vs -0.3% expected. The report usually doesn’t trigger much reaction in the currency; however, on the back of empty calendar, and some hopes that housing bubble may push the BOE to speed up the rate hike era, it had some impact on the pound. Currently the pair is coming closer to 1.71 area, where large buyers’ interest is noted, thus, the rebound back up to 1.7150 is not ruled out again from here.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.7122, with support below at 1.7096, 1.7058, and 1.7032 with resistance above at 1.7160, 1.7186, and 1.7224. Hourly Moving Averages are mixed, with the 200SMA at 1.7115, and the daily 20EMA flat at 1.7042. Hourly RSI is bullish at 50.