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12 Mar 2014
GBP/USD is attacking 1.66 support
FXStreet (Moscow) - GBP/USD is on the attack, trying to break below 1.66 support level; it posted 1.6596 low but rebounded to 1.6609 at the moment.
GBP/USD is overbought
The overbought stance of the pound pressured the pair to 1.66 area of support, but as long as GBP stays above the level the recovery back to 1,6649 resistance is not ruled out. Nevertheless, the number of sellers is growing, and the geopolitical tension is another factor in favor of selling. Absence of key releases on Wednesday may leave the mentioned support intact, but any wave of risk aversion may take the pair to 1.6681 area where buyers’ interest is noted.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6622, with support below at 1.6590, 1.6563 and 1.6531, with resistance above at 1.6649, 1.6681, and 1.6708. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6692, and the daily 20EMA flat at 1.6645. Hourly RSI is neutral at 45.
GBP/USD is overbought
The overbought stance of the pound pressured the pair to 1.66 area of support, but as long as GBP stays above the level the recovery back to 1,6649 resistance is not ruled out. Nevertheless, the number of sellers is growing, and the geopolitical tension is another factor in favor of selling. Absence of key releases on Wednesday may leave the mentioned support intact, but any wave of risk aversion may take the pair to 1.6681 area where buyers’ interest is noted.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6622, with support below at 1.6590, 1.6563 and 1.6531, with resistance above at 1.6649, 1.6681, and 1.6708. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6692, and the daily 20EMA flat at 1.6645. Hourly RSI is neutral at 45.