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12 Feb 2014
GBP/USD regain consciousness reaching 1.6474 high in Europe, but not for long…
FXStreet (Moscow) - GBP/USD was absolutely flat at 1.6450 during Asia, but woke up in Europe reaching 1.6474 and again rebounding to 1.6445 at the moment.
The pound will be a star
Despite the boring Asian trades, today the pound is going to be the star of the show, as Quarterly Inflation Report may bring some interesting surprises. The market will pay attention to the CPI forecasts – if the number is projected to stay above 2,0% for the nearest 24 months, it may fuel the rally on GBP/USD, and support its move up with the initial target at 1.6497 resistance level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6444, with support below at 1.6399, 1.6346 and 1.6301, with resistance above at 1.6497, 1.6542, and 1.6595. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6375, and the daily 20EMA flat at 1.6427. Hourly RSI is neutral at 55.
The pound will be a star
Despite the boring Asian trades, today the pound is going to be the star of the show, as Quarterly Inflation Report may bring some interesting surprises. The market will pay attention to the CPI forecasts – if the number is projected to stay above 2,0% for the nearest 24 months, it may fuel the rally on GBP/USD, and support its move up with the initial target at 1.6497 resistance level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6444, with support below at 1.6399, 1.6346 and 1.6301, with resistance above at 1.6497, 1.6542, and 1.6595. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6375, and the daily 20EMA flat at 1.6427. Hourly RSI is neutral at 55.