2 Jun 2014
GBP/USD breaks ties with 1.6740 area
FXStreet (Moscow) - GBP/USD opened the day at 1.6765, gradually moved down, reaching 1.6736 low, but bounced back to 1.6760 area on European open.
Any surprises?
GBP managed to rebound during the last trading day of the previous week, and today the pair may have an opportunity to go on. Although Manufacturing PMI data is expected to show mild retreat from the previous level, the positive surprises are not ruled out given the strength of British recovery. Any readings above expectations may trigger exaggerated reaction with possibility to come back to initial resistance at 1.6785.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6749, with support below at 1.6720, 1.6684, 1.6655 with resistance above at 1.6785, 1.6814, and 1.6850. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6810, and the daily 20EMA bearish at 1.6807. Hourly RSI is bearish at 49.
Any surprises?
GBP managed to rebound during the last trading day of the previous week, and today the pair may have an opportunity to go on. Although Manufacturing PMI data is expected to show mild retreat from the previous level, the positive surprises are not ruled out given the strength of British recovery. Any readings above expectations may trigger exaggerated reaction with possibility to come back to initial resistance at 1.6785.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6749, with support below at 1.6720, 1.6684, 1.6655 with resistance above at 1.6785, 1.6814, and 1.6850. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6810, and the daily 20EMA bearish at 1.6807. Hourly RSI is bearish at 49.