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15 Oct 2014
GBP/USD back above 1.59 again on positive UK data
FXStreet (Moscow) - GBP/USD came under pressure sliding under 1.59 before the UK data, and moved back to 1.5937 post the release.
The pound was nervous before the key British report of the week, as market wanted to figure out, if there was wage inflation evolving. Average Earnings excluding Bonuses came at 0.9% vs 0.8% expected, confirming that wages are growing faster than Consumer Price Index, and reviving hopes for the earlier rate hike from the BOE. Meanwhile, ILO Unemployment rate was better than expected at 6.0% vs 6.1%, while Claimant Count Change came below expectations at -18.6K vs -35.0K. The pair moved to 1.5937 right after the release, and may go further to 1.5967 pivot point.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.5967, with support below at 1.5834, followed by 1.5765 and 1.5632 with resistance above at 1.6036, followed by 1.6169 and 1.6238. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.6062, and the daily 20EMA bearish at 1.6168. Hourly RSI is bearish at 35.
The pound was nervous before the key British report of the week, as market wanted to figure out, if there was wage inflation evolving. Average Earnings excluding Bonuses came at 0.9% vs 0.8% expected, confirming that wages are growing faster than Consumer Price Index, and reviving hopes for the earlier rate hike from the BOE. Meanwhile, ILO Unemployment rate was better than expected at 6.0% vs 6.1%, while Claimant Count Change came below expectations at -18.6K vs -35.0K. The pair moved to 1.5937 right after the release, and may go further to 1.5967 pivot point.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.5967, with support below at 1.5834, followed by 1.5765 and 1.5632 with resistance above at 1.6036, followed by 1.6169 and 1.6238. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.6062, and the daily 20EMA bearish at 1.6168. Hourly RSI is bearish at 35.