29 Apr 2014
GBP/USD got new food for thoughts on GDP release
FXStreet (Moscow) - GBP/USD broke above 1.6820 and posted 1.6841 high right before the release of the GDP numbers; it is trading at 1.6791 now.
When the GDP came out…
The pair already got some stimulus from the positive comments of the BOE’s Carney on broad recovery of the UK economy. It helped the pair to break above 1.6820 area before the Q1 GDP release which confirmed the British economy is growing slower than expected at 0.8% q/q, and 3.1% y/y pace vs 0.9% q/q, and 3.2% y/y. The reading pushedthe pair down to 1.6791, and the next target will be at 1.6770 support level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6814, with support below at 1.6770, 1.6732, 1.6688 with resistance above at 1.6852, 1.6896, and 1.6934. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6804, and the daily 20EMA bullish at 1.6747. Hourly RSI is bearish at 41.
When the GDP came out…
The pair already got some stimulus from the positive comments of the BOE’s Carney on broad recovery of the UK economy. It helped the pair to break above 1.6820 area before the Q1 GDP release which confirmed the British economy is growing slower than expected at 0.8% q/q, and 3.1% y/y pace vs 0.9% q/q, and 3.2% y/y. The reading pushedthe pair down to 1.6791, and the next target will be at 1.6770 support level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6814, with support below at 1.6770, 1.6732, 1.6688 with resistance above at 1.6852, 1.6896, and 1.6934. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6804, and the daily 20EMA bullish at 1.6747. Hourly RSI is bearish at 41.