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16 May 2014
GBP/USD is camping above 1.6780
FXStreet (Moscow) - GBP/USD started the day at 1.6788, and hardly moved during Asian trades, coming to Europe at the same level.
When emotions go away
The pair rebounded from 1.6730 area yesterday, and resumed the rise, although the correction was mild and amounted to approximately 50 pips. For now the market is still under emotions, and may continue to hold the pound near monthly lows. Nevertheless, soon the fundamentals may get the first role again, and another evidence of strong economic recovery has the chances to trigger new wave of interest to the pound. The current area could be very attractive for bulls seeking to find attractive levels to enter with longs.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6776, with support below at 1.6745, 1.6699, 1.6668 with resistance above at 1.6822, 1.6853, and 1.6899. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6878, and the daily 20EMA bearish at 1.6828. Hourly RSI is bullish at 55.
When emotions go away
The pair rebounded from 1.6730 area yesterday, and resumed the rise, although the correction was mild and amounted to approximately 50 pips. For now the market is still under emotions, and may continue to hold the pound near monthly lows. Nevertheless, soon the fundamentals may get the first role again, and another evidence of strong economic recovery has the chances to trigger new wave of interest to the pound. The current area could be very attractive for bulls seeking to find attractive levels to enter with longs.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6776, with support below at 1.6745, 1.6699, 1.6668 with resistance above at 1.6822, 1.6853, and 1.6899. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6878, and the daily 20EMA bearish at 1.6828. Hourly RSI is bullish at 55.