Back
11 Mar 2014
GBP/USD is looking for catalysts to break above 1.6650
FXStreet (Moscow) - GBP/USD opened the day at 1.6638, and since that time showed only 10-pip swaying.
GBP/USD will look at IP data
The pair stuck around 1.6650 resistance level, and is not able to break above without some catalyst. The scheduled for release industrial production data may become of interest today, as the pair lost too much yesterday on practically no news. M&A flows may disappear today, thus the better than expected numbers will be strong enough catalyst to recover all the losses. The chances to see positive data are quite high given the released last week PMI numbers confirmed there was no significant negative effect from bad weather conditions. In this case, the pair make break above 1.6650 and move up to 1.6718 resistance level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6670, with support below at 1.6596, 1.6548 and 1.6474, with resistance above at 1.6718, 1.6792, and 1.6840. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6696, and the daily 20EMA flat at 1.6648. Hourly RSI is neutral at 35.
GBP/USD will look at IP data
The pair stuck around 1.6650 resistance level, and is not able to break above without some catalyst. The scheduled for release industrial production data may become of interest today, as the pair lost too much yesterday on practically no news. M&A flows may disappear today, thus the better than expected numbers will be strong enough catalyst to recover all the losses. The chances to see positive data are quite high given the released last week PMI numbers confirmed there was no significant negative effect from bad weather conditions. In this case, the pair make break above 1.6650 and move up to 1.6718 resistance level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6670, with support below at 1.6596, 1.6548 and 1.6474, with resistance above at 1.6718, 1.6792, and 1.6840. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6696, and the daily 20EMA flat at 1.6648. Hourly RSI is neutral at 35.