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2 Apr 2014
GBP/USD lacks data, and direction around 1.6630
FXStreet (Moscow) - GBP/USD spent the morning in narrow ranges trading around 1.6630 at the moment.
And PMI again...
Although the pair retraced from recent highs around 1.6680, the move higher may resume if we get additional economic data proving the strength of the British recovery. The whole week as well as today lacks market-movers from the UK, thus, the market will have to focus on Service Sector PMI. Being a second-tier data, it still may support some interest to the pound if proves to be much better than expected. If so, wait for the move higher with initial target at 1.6665 resistance level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6641, with support below at 1.6607, 1.6583, and 1.6549 with resistance above at 1.6665, 1.6699, and 1.6723. Hourly Moving Averages are mixed, with the 200SMA at 1.6572, and the daily 20EMA bullish at 1.6603. Hourly RSI is neutral at 42.
And PMI again...
Although the pair retraced from recent highs around 1.6680, the move higher may resume if we get additional economic data proving the strength of the British recovery. The whole week as well as today lacks market-movers from the UK, thus, the market will have to focus on Service Sector PMI. Being a second-tier data, it still may support some interest to the pound if proves to be much better than expected. If so, wait for the move higher with initial target at 1.6665 resistance level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6641, with support below at 1.6607, 1.6583, and 1.6549 with resistance above at 1.6665, 1.6699, and 1.6723. Hourly Moving Averages are mixed, with the 200SMA at 1.6572, and the daily 20EMA bullish at 1.6603. Hourly RSI is neutral at 42.