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27 Mar 2014
GBP/USD is up an above 1.6600 after strong retail sales report
FXStreet (Moscow) - GBP/USD touched the intraday high at 1.6639 after strong retail sales data, but quickly retraced to current levels of 1.6620.
GBP/USD finds its trigger
GBP/USD loved the retail sales numbers as they came out much stronger than expected. The British economy recovery is safe in still in good hands of UK consumers. The data shows that they are quite optimistic about the economy in general and their personal state in particular. How long will they be willing to play the role of economic locomotive? Obviously, the market is not interested in it now. GBP/USD spiked to current highs at 1.6639, though the upside may be stopped by strong offers seen at 1.6650 with stops on a break of 1.6680. Should this area of resistance is broken, 1.6700 will come into sight. On the downside the short-term correction might take the pair to the support of 1.6600.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6563, with support below at 1.6526, 1.6473, and 1.6436 with resistance above at 1.6616, 1.6653, and 1.6706. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6555, and the daily 20EMA flat at 1.6587. Hourly RSI is neutral at 63.
GBP/USD finds its trigger
GBP/USD loved the retail sales numbers as they came out much stronger than expected. The British economy recovery is safe in still in good hands of UK consumers. The data shows that they are quite optimistic about the economy in general and their personal state in particular. How long will they be willing to play the role of economic locomotive? Obviously, the market is not interested in it now. GBP/USD spiked to current highs at 1.6639, though the upside may be stopped by strong offers seen at 1.6650 with stops on a break of 1.6680. Should this area of resistance is broken, 1.6700 will come into sight. On the downside the short-term correction might take the pair to the support of 1.6600.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6563, with support below at 1.6526, 1.6473, and 1.6436 with resistance above at 1.6616, 1.6653, and 1.6706. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6555, and the daily 20EMA flat at 1.6587. Hourly RSI is neutral at 63.