7 Apr 2014
GBP/USD is back to the open levels
FXStreet (Moscow) - GBP/USD is still not moving staying within 20-pip range during the Asian and European session, and trading around 1.6570 area at the moment.
Waiting on Tuesday
The pair is bound to stay in such a tight range due to the empty economic calendar, and lack of volatility in the markets. Nevertheless, already tomorrow we will see industrial production data out of the UK, and the numbers may be important to define further direction of the pair. Despite the weakness on business activity in all three sectors of the British economy, there is still hope to see better than expected numbers, as the PMIs are still stay above 50-pip waterline pointing on further economy expansion. If so, the initial target of the pair will be at 1.6603 resistance.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6579, with support below at 1.6550, 1.6526, and 1.6497 with resistance above at 1.6603, 1.6632, and 1.6656. Hourly Moving Averages are bearish, with the 200SMA at 1.6609, and the daily 20EMA flat at 1.6602. Hourly RSI is neutral at 40.
Waiting on Tuesday
The pair is bound to stay in such a tight range due to the empty economic calendar, and lack of volatility in the markets. Nevertheless, already tomorrow we will see industrial production data out of the UK, and the numbers may be important to define further direction of the pair. Despite the weakness on business activity in all three sectors of the British economy, there is still hope to see better than expected numbers, as the PMIs are still stay above 50-pip waterline pointing on further economy expansion. If so, the initial target of the pair will be at 1.6603 resistance.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6579, with support below at 1.6550, 1.6526, and 1.6497 with resistance above at 1.6603, 1.6632, and 1.6656. Hourly Moving Averages are bearish, with the 200SMA at 1.6609, and the daily 20EMA flat at 1.6602. Hourly RSI is neutral at 40.