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3 Apr 2014
GBP/USD is down below 1.66, very upset by Service PMI
FXStreet (Moscow) - The pair is still under pressure. Having made a daily high at 1.6663 and low at 1.6581, GBP/USD spot is down -0.26% on the day and presently trading at 1.6582.
Rushing to 1.6550 to come back again
PMI was out more than hour ago, but we still see the consequences. The pair managed to break below strong support level 1.66 where large buyers’ interest was noted, and it looks like it is ready to go even lower. Given there is not many buyers before the 1.6550 level, the way down to it may be quick and not painful. However, the mentioned support may become a good resistance and spring-board to come back to 1.66 again.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6637, with support below at 1.6609, 1.6592, and 1.6564 with resistance above at 1.6654, 1.6682, and 1.6699. Hourly Moving Averages are largely flat, with the 200SMA at 1.6588, and the daily 20EMA bullish at 1.6605. Hourly RSI is neutral at 49.
Rushing to 1.6550 to come back again
PMI was out more than hour ago, but we still see the consequences. The pair managed to break below strong support level 1.66 where large buyers’ interest was noted, and it looks like it is ready to go even lower. Given there is not many buyers before the 1.6550 level, the way down to it may be quick and not painful. However, the mentioned support may become a good resistance and spring-board to come back to 1.66 again.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6637, with support below at 1.6609, 1.6592, and 1.6564 with resistance above at 1.6654, 1.6682, and 1.6699. Hourly Moving Averages are largely flat, with the 200SMA at 1.6588, and the daily 20EMA bullish at 1.6605. Hourly RSI is neutral at 49.