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16 Oct 2014
GBP/USD depressed, back below 1.6000
FXStreet (Moscow) - GBP/USD is giving away Wednesday’s gains; the pair dipped below 1.6000 and settled at 1.5975 after having started the Asian session at 1.6016.
There are no important news out from UK scheduled for today. This may leave GBP/USD exposed to technical trading after excessive volatile movements on Wednesday. The pair has dipped below 1.6000 early in Asia as USD is mildly growing across the board. During NY hours US industrial production and Philly FED index can engage investors’ attention. Positive numbers might support USD across the board and push GBP/USD deeper into sub-1.60 range towards the initial support of 1.5950 followed by 1.5930. The upside may be limited by 1.6000/16 area. Once broken, the pair may return to Wednesday’s high at 1.6068
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.5988, with support below at 1.5906, followed by 1.5793 and 1.5711 with resistance above at 1.6101, followed by 1.6183 and 1.6296. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.6047, and the daily 20EMA bearish at 1.6154. Hourly RSI is bullish at 55.
There are no important news out from UK scheduled for today. This may leave GBP/USD exposed to technical trading after excessive volatile movements on Wednesday. The pair has dipped below 1.6000 early in Asia as USD is mildly growing across the board. During NY hours US industrial production and Philly FED index can engage investors’ attention. Positive numbers might support USD across the board and push GBP/USD deeper into sub-1.60 range towards the initial support of 1.5950 followed by 1.5930. The upside may be limited by 1.6000/16 area. Once broken, the pair may return to Wednesday’s high at 1.6068
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.5988, with support below at 1.5906, followed by 1.5793 and 1.5711 with resistance above at 1.6101, followed by 1.6183 and 1.6296. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.6047, and the daily 20EMA bearish at 1.6154. Hourly RSI is bullish at 55.