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28 Mar 2014
GBP/USD is still above 1.66, and thinking of new highs
FXStreet (Moscow) - GBP/USD opened the day at 1.6608, and moved a bit higher reaching 1.6621 session high by the moment, and retracing a bit to 1.6610 area.
New Upside World
Although the pair rebounded from Thursday highs around 1.6645 area, another attempt to go up is not ruled out. Now, when the retail sales gave all the reasons to believe in the pound strength, every new positive report will be another excuse to buy the currency. Today we will see the Final GDP and Current account numbers, and though the releases are usually widely ignored by the market, in current circumstances better than expected data may trigger another wave of demand with initial target at 1.6654 resistance level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6605, with support below at 1.6561, 1.6512, and 1.6468 with resistance above at 1.6654, 1.6698, and 1.6747. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6552, and the daily 20EMA flat at 1.6589. Hourly RSI is neutral at 57.
New Upside World
Although the pair rebounded from Thursday highs around 1.6645 area, another attempt to go up is not ruled out. Now, when the retail sales gave all the reasons to believe in the pound strength, every new positive report will be another excuse to buy the currency. Today we will see the Final GDP and Current account numbers, and though the releases are usually widely ignored by the market, in current circumstances better than expected data may trigger another wave of demand with initial target at 1.6654 resistance level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6605, with support below at 1.6561, 1.6512, and 1.6468 with resistance above at 1.6654, 1.6698, and 1.6747. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6552, and the daily 20EMA flat at 1.6589. Hourly RSI is neutral at 57.