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29 Oct 2014
GBP/USD – the 4th attack at 1.62?
FXStreet (Moscow) - GBP/USD opened at 1.6131, and shyly moved higher to 1.6152 in early Europe; currently, it’s trading at 1.6144.
Yesterday, the pound made the third attempt in a row during the last month to break above 1.6180/1.62 resistance area. Although the move hasn’t succeeded yet, nothing is lost for the pair, as the FOMC meeting may trigger sharp volatility in the market. If the BOE becomes the leader of “rate hike race” again, the pound may have all the chances to break above the mentioned area, and to refresh monthly highs. The initial target above 1.62 may be found at 1.6230 resistance.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6134, with support below at 1.6085, followed by 1.6038 and 1.5989 with resistance above at 1.6181, followed by 1.6230 and 1.6277. Hourly Moving Averages are bullish, with the 200SMA at 1.6098, and the daily 20EMA flat at 1.6121. Hourly RSI is bullish at 53.
Yesterday, the pound made the third attempt in a row during the last month to break above 1.6180/1.62 resistance area. Although the move hasn’t succeeded yet, nothing is lost for the pair, as the FOMC meeting may trigger sharp volatility in the market. If the BOE becomes the leader of “rate hike race” again, the pound may have all the chances to break above the mentioned area, and to refresh monthly highs. The initial target above 1.62 may be found at 1.6230 resistance.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6134, with support below at 1.6085, followed by 1.6038 and 1.5989 with resistance above at 1.6181, followed by 1.6230 and 1.6277. Hourly Moving Averages are bullish, with the 200SMA at 1.6098, and the daily 20EMA flat at 1.6121. Hourly RSI is bullish at 53.