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17 Feb 2014
GBP/USD is in uptrend, and this is for sure
FXStreet (Moscow) - FXStreet (Barcelona) - GBP/USD focused on another target – November, 2009 highs around 1.6876, and it started to implement the project from the early Asia reaching 1.6821 high, and rebounding to 1,6775 by the moment.
The pound can’t stop
GBP continued its stride up right from the open on Monday. Cable popped above 1.6800 and reached more than 5-year high at 1.6872. Despite the current correction lower to 1,6775 area, there is still a potential to reach new highs. Not only it’s the pound’s fame, but also it’s the US Dollar’s weakness, as the American data proved to be worse than expected by labor and retail data parameters. The looming BOE meeting minutes may be strong enough catalyst to trigger another wave of demand on the British currency with the next stop at 1.6889 resistance level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6713, with support below at 1.6677, 1.6607 and 1.6571, with resistance above at 1.6783, 1.6819, and 1.6889. Hourly Moving Averages are bullish, with the 200SMA at 1.6460, and the daily 20EMA bullish at 1.6490. Hourly RSI is neutral at 72.
The pound can’t stop
GBP continued its stride up right from the open on Monday. Cable popped above 1.6800 and reached more than 5-year high at 1.6872. Despite the current correction lower to 1,6775 area, there is still a potential to reach new highs. Not only it’s the pound’s fame, but also it’s the US Dollar’s weakness, as the American data proved to be worse than expected by labor and retail data parameters. The looming BOE meeting minutes may be strong enough catalyst to trigger another wave of demand on the British currency with the next stop at 1.6889 resistance level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6713, with support below at 1.6677, 1.6607 and 1.6571, with resistance above at 1.6783, 1.6819, and 1.6889. Hourly Moving Averages are bullish, with the 200SMA at 1.6460, and the daily 20EMA bullish at 1.6490. Hourly RSI is neutral at 72.