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30 Oct 2014
GBP/USD below 1.6000, much to bears' delight
FXStreet (Moscow) - GBP/USD is sitting at 1.5974 after having touched the current intraday low at 1.5961; the pair is trading with more than 30 pips loss on the day
The pair lost any hope to break above 1.62, as the recent FOMC meeting showed quite optimistic economic outlook of the Fed members. Empty British economic calendar only hardens the case for the pound recovery. For now, only a series of stronger than expected UK reports coupled with aggressive comments from the BOE members may trigger any demand on the pound again. From the technical point of view bespoke support comes at 1.5950 and at 1.5900 with strong demand on approach. The resistance is seen at 1.6000
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6059, with support below at 1.5956, followed by 1.5899 and 1.5796 with resistance above at 1.6116, followed by 1.6219 and 1.6276. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.6094, and the daily 20EMA flat at 1.6110. Hourly RSI is bearish at 27.
The pair lost any hope to break above 1.62, as the recent FOMC meeting showed quite optimistic economic outlook of the Fed members. Empty British economic calendar only hardens the case for the pound recovery. For now, only a series of stronger than expected UK reports coupled with aggressive comments from the BOE members may trigger any demand on the pound again. From the technical point of view bespoke support comes at 1.5950 and at 1.5900 with strong demand on approach. The resistance is seen at 1.6000
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6059, with support below at 1.5956, followed by 1.5899 and 1.5796 with resistance above at 1.6116, followed by 1.6219 and 1.6276. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.6094, and the daily 20EMA flat at 1.6110. Hourly RSI is bearish at 27.