11 Jul 2014
GBP/USD rebounded from Asian lows
FXStreet (Moscow) - GBP/USD opened the day at 1.7126, lost five pips in Asia, but rebounded above 1.7130 area by the moment.
Trade balance didn’t help
Pound is left without any catalysts to move except for the market sentiment. And the sentiment says that riskier assets may suffer, but the ones with good reputation may stay stable. The British currency has been building its reputation for a long time, and strong economic data from different sectors with record high PMIs support the view that UK is on stable recovery path. This notion may help the pair to keep to its positions with a few chances to go up. In this case the initial target to the upside may lie at 1.7166 resistance.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.7136, with support below at 1.7101, 1.7071, and 1.7036 with resistance above at 1.7166, 1.7201, and 1.7231. Hourly Moving Averages are bearish, with the 200SMA at 1.7139, and the daily 20EMA bullish at 1.7060. Hourly RSI is bullish at 47.
Trade balance didn’t help
Pound is left without any catalysts to move except for the market sentiment. And the sentiment says that riskier assets may suffer, but the ones with good reputation may stay stable. The British currency has been building its reputation for a long time, and strong economic data from different sectors with record high PMIs support the view that UK is on stable recovery path. This notion may help the pair to keep to its positions with a few chances to go up. In this case the initial target to the upside may lie at 1.7166 resistance.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.7136, with support below at 1.7101, 1.7071, and 1.7036 with resistance above at 1.7166, 1.7201, and 1.7231. Hourly Moving Averages are bearish, with the 200SMA at 1.7139, and the daily 20EMA bullish at 1.7060. Hourly RSI is bullish at 47.