Back
25 Jul 2014
GBP/USD may get up from its knees
FXStreet (Moscow) - GBP/USD opened the day at 1.6984, moved higher to 1.6997 and is still somewhere around.
GDP may change everything
Today the pound will have the last chance to get up from its knees after a series of disappointments. The MPC minutes and Retail Sales convinced the market there is very low possibility to see any rate hike this year. However, GDP data may still support the demand on the pound if it comes out better than expected. Stronger growth may confirm high economy potential, and send the pair to 1.7039 resistance.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.7002, with support below at 1.6951, 1.6914 and 1.6863 with resistance above at 1.7039, 1.7090, and 1.7127. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.7080, and the daily 20EMA bearish at 1.7068. Hourly RSI is bearish at 44.
GDP may change everything
Today the pound will have the last chance to get up from its knees after a series of disappointments. The MPC minutes and Retail Sales convinced the market there is very low possibility to see any rate hike this year. However, GDP data may still support the demand on the pound if it comes out better than expected. Stronger growth may confirm high economy potential, and send the pair to 1.7039 resistance.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.7002, with support below at 1.6951, 1.6914 and 1.6863 with resistance above at 1.7039, 1.7090, and 1.7127. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.7080, and the daily 20EMA bearish at 1.7068. Hourly RSI is bearish at 44.