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5 Sep 2014
GBP/USD rebounds from 7-month lows
FXStreet (Moscow) - GBP/USD started at 1.6327 on Friday, posted 7-month low at 1.6286 in Asia, and rebounded to current 1.6327.
Following the ECB
The BOE didn’t follow the ECB endeavors, leaving monetary policy unchanged. Nevertheless, the pound came under pressure on fears that in current environment the MPC won’t be in a hurry to tighten earlier than expected. The UK economic calendar presents only second-tier data, thus, the market may focus on the Non-Farm Payrolls data released tonight. Stronger readings may put the pair under additional pressure with the nearest target at 1.6284 support level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6375, with support below at 1.6284, 1.6237, and 1.6146 with resistance above at 1.6422, 1.6513, and 1.6560. Hourly Moving Averages are bearish, with the 200SMA at 1.6534 and the daily 20EMA bearish at 1.6611. Hourly RSI is bearish at 25.
Following the ECB
The BOE didn’t follow the ECB endeavors, leaving monetary policy unchanged. Nevertheless, the pound came under pressure on fears that in current environment the MPC won’t be in a hurry to tighten earlier than expected. The UK economic calendar presents only second-tier data, thus, the market may focus on the Non-Farm Payrolls data released tonight. Stronger readings may put the pair under additional pressure with the nearest target at 1.6284 support level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6375, with support below at 1.6284, 1.6237, and 1.6146 with resistance above at 1.6422, 1.6513, and 1.6560. Hourly Moving Averages are bearish, with the 200SMA at 1.6534 and the daily 20EMA bearish at 1.6611. Hourly RSI is bearish at 25.