16 Jun 2014
GBP/USD is hanging by one arm on 1.70
FXStreet (Moscow) - GBP/USD started the day at 1.6971, and is gradually climbing higher reaching 1.7009 peak by the moment, but retreating a bit.
Carney all of the sudden…
The pound even didn’t hope to get such a significant argument in favor of stronger rise. Monetary authorities spent too much time convincing the market there was no reasons to expect tightening any time soon. However, Mark Carney suddenly changed his mind, and admitted that rates may rise even sooner than the market expects it. The readings out of Britain do suggest the economy is growing with healthy pace, and now when the chairman confirmed it, the market may pay even more attention to every coming report. The upside for the pair may be limited initially at 1.7033, while the downside – by 1.6858.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6961, with support below at 1.6930, 1.6889, 1.6858 with resistance above at 1.7002, 1.7033, and 1.7074. Hourly Moving Averages are bullish, with the 200SMA at 1.6810, and the daily 20EMA bullish at 1.6820. Hourly RSI is bullish at 68.
Carney all of the sudden…
The pound even didn’t hope to get such a significant argument in favor of stronger rise. Monetary authorities spent too much time convincing the market there was no reasons to expect tightening any time soon. However, Mark Carney suddenly changed his mind, and admitted that rates may rise even sooner than the market expects it. The readings out of Britain do suggest the economy is growing with healthy pace, and now when the chairman confirmed it, the market may pay even more attention to every coming report. The upside for the pair may be limited initially at 1.7033, while the downside – by 1.6858.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6961, with support below at 1.6930, 1.6889, 1.6858 with resistance above at 1.7002, 1.7033, and 1.7074. Hourly Moving Averages are bullish, with the 200SMA at 1.6810, and the daily 20EMA bullish at 1.6820. Hourly RSI is bullish at 68.