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20 Feb 2014
GBP/USD got slashed data from euro zone
FXStreet (Moscow) - GBP/USD dived to 1.6640 on the EMU disappointments, but reversed the move trading at 1.6662 at the moment.
The US data is in store
The pair got pressured by weaker than expected numbers from the EMU PMI data - manufacturing activity in Germany and France came out significantly below the forecasts raising expectations on monetary easing from the ECB in March. This notion supported the demand on USD, and resulted in GBP/USD sell-off to 1.6640 low. Nevertheless, the pair already reverses the move, as US data is in store. If American reports disappoint, wait for a move higher – the upside is limited by 1.6750 where good selling interest is rumored.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6686, with support below at 1.6637, 1.6587 and 1.6538, with resistance above at 1.6736, 1.6785, and 1.6835. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6599, and the daily 20EMA bullish at 1.6542. Hourly RSI is neutral at 48.
The US data is in store
The pair got pressured by weaker than expected numbers from the EMU PMI data - manufacturing activity in Germany and France came out significantly below the forecasts raising expectations on monetary easing from the ECB in March. This notion supported the demand on USD, and resulted in GBP/USD sell-off to 1.6640 low. Nevertheless, the pair already reverses the move, as US data is in store. If American reports disappoint, wait for a move higher – the upside is limited by 1.6750 where good selling interest is rumored.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6686, with support below at 1.6637, 1.6587 and 1.6538, with resistance above at 1.6736, 1.6785, and 1.6835. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6599, and the daily 20EMA bullish at 1.6542. Hourly RSI is neutral at 48.