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3 Mar 2014
GBP/USD is focused on UK data rather than Ukrainian
FXStreet (Moscow) - GBP/USD was more stable than EUR/USD this morning starting the day at 1.6710 but recovering to 1.6741 right away.
GBP will focus on PMI
The small gap in the morning was already offset, and the pair stays around 1.6735 at the moment. The pound is again on its way to multi-year highs, and though the risk aversion due to geopolitical tensions may pressure the pair, the M&A flows may continue support the pair short-term. The scheduled for release today UK Manufacturing PMI may show a rebound higher after three months of disappointing data in a row. If so, wу may see the rise higher with initial target at 1.6785 resistance level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6730, with support below at 1.6691, 1.6636 and 1.6597, with resistance above at 1.6785, 1.6824, and 1.6879. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6676, and the daily 20EMA bullish at 1.6611. Hourly RSI is neutral at 58.
GBP will focus on PMI
The small gap in the morning was already offset, and the pair stays around 1.6735 at the moment. The pound is again on its way to multi-year highs, and though the risk aversion due to geopolitical tensions may pressure the pair, the M&A flows may continue support the pair short-term. The scheduled for release today UK Manufacturing PMI may show a rebound higher after three months of disappointing data in a row. If so, wу may see the rise higher with initial target at 1.6785 resistance level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6730, with support below at 1.6691, 1.6636 and 1.6597, with resistance above at 1.6785, 1.6824, and 1.6879. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6676, and the daily 20EMA bullish at 1.6611. Hourly RSI is neutral at 58.