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16 Apr 2014
GBP/USD labors its way above 1.6740
FXStreet (Moscow) - GBP/USD started the day at 1.6726, and slowly moves higher coming closer to 1.6740 support.
Anybody seen spare capacity?
CPI data from the UK remained unchanged, thus the focus now turns to Labor report. Given the emphasize the BOE put on labor market spare capacity in the recent Quarterly Inflation Report, the better than expected data may support the hopes for gradual transition from easy monetary course to a tighter one sooner rather than later. Pay attention not only to unemployment rate, but also to claimant count rate, average earnings, and average hours worked – everything that might show the reduction in spare capacities. Stronger readings will help the pair to move higher with initial target at 1.6767 resistance level once the 1.6740 is broken.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6713, with support below at 1.6677, 1.6623, 1.6587 with resistance above at 1.6767, 1.6803, and 1.6857. Hourly Moving Averages are mixed, with the 200SMA at 1.6699, and the daily 20EMA neutral at 1.6669. Hourly RSI is bullish at 50.
Anybody seen spare capacity?
CPI data from the UK remained unchanged, thus the focus now turns to Labor report. Given the emphasize the BOE put on labor market spare capacity in the recent Quarterly Inflation Report, the better than expected data may support the hopes for gradual transition from easy monetary course to a tighter one sooner rather than later. Pay attention not only to unemployment rate, but also to claimant count rate, average earnings, and average hours worked – everything that might show the reduction in spare capacities. Stronger readings will help the pair to move higher with initial target at 1.6767 resistance level once the 1.6740 is broken.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6713, with support below at 1.6677, 1.6623, 1.6587 with resistance above at 1.6767, 1.6803, and 1.6857. Hourly Moving Averages are mixed, with the 200SMA at 1.6699, and the daily 20EMA neutral at 1.6669. Hourly RSI is bullish at 50.