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20 Oct 2014
GBP/USD - 1.61 resistance under attack
FXStreet (Moscow) - GBP/USD spent most of Asian trades testing 1.61 resistance area, but the breakout hasn’t confirmed yet, though the pair is currently trading at 1.6105.
The pound may become the key catalyst of currency moves this week, as we will get MPC minutes on Wednesday, and Q3 GDP on Friday. The reports may add more details to the overall picture of the British economy, and help the market to assess the chances of the first rate hike in the nearest quarters. The pound has been sold-off recently, and it may prevent the pair from slide even in case of negative data. On the other hand, better than expected outcome may fuel the interest to the cable and send it above 1.6138 resistance.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6085, with support below at 1.6039, followed by 1.5985 and 1.5940 with resistance above at 1.6138, followed by 1.6183 and 1.6237. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.6056, and the daily 20EMA bearish at 1.6143. Hourly RSI is bullish at 58.
The pound may become the key catalyst of currency moves this week, as we will get MPC minutes on Wednesday, and Q3 GDP on Friday. The reports may add more details to the overall picture of the British economy, and help the market to assess the chances of the first rate hike in the nearest quarters. The pound has been sold-off recently, and it may prevent the pair from slide even in case of negative data. On the other hand, better than expected outcome may fuel the interest to the cable and send it above 1.6138 resistance.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6085, with support below at 1.6039, followed by 1.5985 and 1.5940 with resistance above at 1.6138, followed by 1.6183 and 1.6237. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.6056, and the daily 20EMA bearish at 1.6143. Hourly RSI is bullish at 58.