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10 Mar 2014
GBP/USD is looking for new catalysts to overcome 1.6790
FXStreet (Moscow) - ">GBP/USD spent the Asia in narrow 15-pip range starting the week at 1.6724 and moving closer to 1.6735 at the moment.
The spare capacities may remain spare
The 1.6780/90 area is not that easy to break through, as it stays intact from December, 2009. Despite the growth potential of the UK, we still see some areas of weakness, and the spare capacities mentioned by Carny within the recent Inflation report may remain spare given the emerging markets panic, and escalation of conflicts in different corners of the world. Barren economic calendar for today may support the consolidative moves with corrective bias. The initial support level is placed at 1.6691, and the upside is initially limited by 1.6772 resistance level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6740, with support below at 1.6691, 1.6659 and 1.6610, with resistance above at 1.6772, 1.6821, and 1.6853. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6699, and the daily 20EMA bullish at 1.6648. Hourly RSI is neutral at 50.
The spare capacities may remain spare
The 1.6780/90 area is not that easy to break through, as it stays intact from December, 2009. Despite the growth potential of the UK, we still see some areas of weakness, and the spare capacities mentioned by Carny within the recent Inflation report may remain spare given the emerging markets panic, and escalation of conflicts in different corners of the world. Barren economic calendar for today may support the consolidative moves with corrective bias. The initial support level is placed at 1.6691, and the upside is initially limited by 1.6772 resistance level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6740, with support below at 1.6691, 1.6659 and 1.6610, with resistance above at 1.6772, 1.6821, and 1.6853. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6699, and the daily 20EMA bullish at 1.6648. Hourly RSI is neutral at 50.