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21 Apr 2014
GBP/USD is on the way to test 1.6820
FXStreet (Moscow) - Currently, GBP/USD rebounded from morning lows around 1.6781, and broke above 1.68 by the moment reaching 1.6811 session high.
Pound pushes the ‘Refresh’ button
As we see, even the empty calendar doesn’t prevent the pound from edging higher closer to 1.6820 resistance level. Better than expected labor data may continue to give a support to the GBP during the coming week, and another evidence of the stable economical recovery in the UK only strengthen the demand on the pound. The Retails Sales are in focus for the week ahead, and if consumer demand proves to be on the rise due to growing household income, we may see the pair refreshing multi-year highs with initial target at 1.6876 (November, 2009 high) resistance level when 1.6820 is broken.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6790, with support below at 1.6776, 1.6759, 1.6745 with resistance above at 1.6807, 1.6821, and 1.6838. Hourly Moving Averages are bullish, with the 200SMA at 1.6765, and the daily 20EMA bullish at 1.6701. Hourly RSI is bearish at 58.
Pound pushes the ‘Refresh’ button
As we see, even the empty calendar doesn’t prevent the pound from edging higher closer to 1.6820 resistance level. Better than expected labor data may continue to give a support to the GBP during the coming week, and another evidence of the stable economical recovery in the UK only strengthen the demand on the pound. The Retails Sales are in focus for the week ahead, and if consumer demand proves to be on the rise due to growing household income, we may see the pair refreshing multi-year highs with initial target at 1.6876 (November, 2009 high) resistance level when 1.6820 is broken.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6790, with support below at 1.6776, 1.6759, 1.6745 with resistance above at 1.6807, 1.6821, and 1.6838. Hourly Moving Averages are bullish, with the 200SMA at 1.6765, and the daily 20EMA bullish at 1.6701. Hourly RSI is bearish at 58.