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7 Jan 2014
GBP/USD tests 1H 200 SMA resistance
FXstreet.com (Barcelona) - GBP/USD posted a morning low at 1.6375 before climbing to where it is presently trading just below its high at 1.6439 where the Hourly 200 SMA is providing resistance.
GBP/USD choppy on empty docket
With an empty economic docket for the UK, GBP/USD has traded choppily. This morning saw German Unemployment Change weaken, and EU CPI decline, with very little in the way of significant US data lined up for later either. Eye are on Wednesday's FOMC minutes, Thursdays BoE & ECB Rate Decision and Statements, and Friday´s NFPs. Looking at a Fibonacci Retracement from the Jan 2 high at 1.6602, to yesterday's low at 1.6336, we can see that spot has successfully retraced back to the 61.6% level at 1.6436, just above the hourly 200 SMA.
What are today´s key GBP/USD levels?
Hourly RSI sits at 59, with ADX at 13. The hourly 200 SMA sits at 1.6544, and the daily 20 EMA is at 1,6402. Daily PP sits at 1.6391, with support at 1.6348, 1.6293, 1.6250 and resistance at 1.6446, 1.6489, 1.6544.A Dark Cloud Cover Candlestick pattern can be seen on the weekly chart too.
GBP/USD choppy on empty docket
With an empty economic docket for the UK, GBP/USD has traded choppily. This morning saw German Unemployment Change weaken, and EU CPI decline, with very little in the way of significant US data lined up for later either. Eye are on Wednesday's FOMC minutes, Thursdays BoE & ECB Rate Decision and Statements, and Friday´s NFPs. Looking at a Fibonacci Retracement from the Jan 2 high at 1.6602, to yesterday's low at 1.6336, we can see that spot has successfully retraced back to the 61.6% level at 1.6436, just above the hourly 200 SMA.
What are today´s key GBP/USD levels?
Hourly RSI sits at 59, with ADX at 13. The hourly 200 SMA sits at 1.6544, and the daily 20 EMA is at 1,6402. Daily PP sits at 1.6391, with support at 1.6348, 1.6293, 1.6250 and resistance at 1.6446, 1.6489, 1.6544.A Dark Cloud Cover Candlestick pattern can be seen on the weekly chart too.