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30 May 2014
When GBP/USD is on the rise…
FXStreet (Moscow) - GBP/USD opened the day at 1.6715, and gradually moved up, reaching 1.6757 on European open.
Following the Euro
Another day free of any British catalysts will leave the pair dominated by market sentiment. We already got Gfk Consumer Confidence coming out above expectations, but saw no reaction of the pair. Although the pound looks little bit weaker than the European colleague judging by the developments in EUR/GBP cross, GBP/USD has been following the EUR/USD moves recently. New wave of interest due to end-month flows may support the move up with initial target at 1.6768 resistance.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6718, with support below at 1.6692, 1.6668, 1.6642 with resistance above at 1.6742, 1.6768, and 1.6792. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6831, and the daily 20EMA bearish at 1.6818. Hourly RSI is bullish at 59.
Following the Euro
Another day free of any British catalysts will leave the pair dominated by market sentiment. We already got Gfk Consumer Confidence coming out above expectations, but saw no reaction of the pair. Although the pound looks little bit weaker than the European colleague judging by the developments in EUR/GBP cross, GBP/USD has been following the EUR/USD moves recently. New wave of interest due to end-month flows may support the move up with initial target at 1.6768 resistance.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6718, with support below at 1.6692, 1.6668, 1.6642 with resistance above at 1.6742, 1.6768, and 1.6792. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6831, and the daily 20EMA bearish at 1.6818. Hourly RSI is bullish at 59.