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24 Feb 2014
GBP/USD is ready to recover
FXStreet (Moscow) - ">GBP/USD slowly climbs up from 1.6624 at the start to 1.6651 at the moment.
Demand from Vodafone deal
Despite the series of large data disappointments, the pound is still resilient, and holds above 1.66 level. If the pair manages to stay above this level, he rally may resume the rise soon. Besides, the deal of Vodafone and Verizon may create additional demand of the pair. In this case we may see the move higher with initial target at 1.6706 resistance level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6659, with support below at 1.6591, 1.6544 and 1.6476, with resistance above at 1.6706, 1.6774, and 1.6821. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6654, and the daily 20EMA bullish at 1.6560. Hourly RSI is neutral at 48.
Demand from Vodafone deal
Despite the series of large data disappointments, the pound is still resilient, and holds above 1.66 level. If the pair manages to stay above this level, he rally may resume the rise soon. Besides, the deal of Vodafone and Verizon may create additional demand of the pair. In this case we may see the move higher with initial target at 1.6706 resistance level.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6659, with support below at 1.6591, 1.6544 and 1.6476, with resistance above at 1.6706, 1.6774, and 1.6821. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6654, and the daily 20EMA bullish at 1.6560. Hourly RSI is neutral at 48.