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28 Feb 2014
GBP/USD is too volatile in the morning
FXStreet (Moscow) - GBP/USD spent the whole morning testing 1.6690/1.67 resistance area that cannot be broken from Wednesday.
GBP may be pressured by Carney
The pound is very reserved as all the British are, but the currency has its arguments for such a behavior. Despite all the risk aversion we see in the markets in reaction to Ukraine-Russia relationships, the pair shows only short-term slide, as there is a bunch of buyers’ down under ready to step up as soon as they see attractive levels. Scheduled for today speech of Mark Carney may be of interest, if he covers monetary policy issues. Any hints of longer than expected period of easy policy heard recently from David Miles may put the pair under pressure with initial target 1.6667 support level. If we get nothing new, there may be a relief recovery to 1.6717 resistance level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6667, with support below at 1.6633, 1.6583 and 1.6549, with resistance above at 1.6717, 1.6751, and 1.6801. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6674, and the daily 20EMA bullish at 1.6597. Hourly RSI is neutral at 53.
GBP may be pressured by Carney
The pound is very reserved as all the British are, but the currency has its arguments for such a behavior. Despite all the risk aversion we see in the markets in reaction to Ukraine-Russia relationships, the pair shows only short-term slide, as there is a bunch of buyers’ down under ready to step up as soon as they see attractive levels. Scheduled for today speech of Mark Carney may be of interest, if he covers monetary policy issues. Any hints of longer than expected period of easy policy heard recently from David Miles may put the pair under pressure with initial target 1.6667 support level. If we get nothing new, there may be a relief recovery to 1.6717 resistance level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6667, with support below at 1.6633, 1.6583 and 1.6549, with resistance above at 1.6717, 1.6751, and 1.6801. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6674, and the daily 20EMA bullish at 1.6597. Hourly RSI is neutral at 53.