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26 Feb 2014
GBP/USD stuck on the mid 1.66’s
FXStreet (Guatemala) - Since the US new home sales rose 9.6% to 468,000 annual rate, being much stronger than expected, the pound has been trading in a range after it recovered from the lows.
GBP/USD is currently trading 1.6637 and above a low of 1.6622, down 0.16% on the sessions. Major currencies remain range bound, with investors finding little reason to push the USD either way at the moment. The calendar was indeed dominated by that release in the US and we are likely going to need to hold on until the rest of the week before cable can determine the next path for itself. Most recently, BOE's Broadbent said, “Pound level reflects relative U.K strength”.
GBP/USD Levels
The 20 DMA is 1.6534, the 50 DMA is 1.6484 and the 200 DMA is 1.5918. RSI (14) reads 34.16. supports are ascending from 1.6538,1.6583 and 1.6623 Spot is 1.6637 while key resistances are 1.6680, 1.6731, 1.6745, 1.6757 and 1.6766.
GBP/USD is currently trading 1.6637 and above a low of 1.6622, down 0.16% on the sessions. Major currencies remain range bound, with investors finding little reason to push the USD either way at the moment. The calendar was indeed dominated by that release in the US and we are likely going to need to hold on until the rest of the week before cable can determine the next path for itself. Most recently, BOE's Broadbent said, “Pound level reflects relative U.K strength”.
GBP/USD Levels
The 20 DMA is 1.6534, the 50 DMA is 1.6484 and the 200 DMA is 1.5918. RSI (14) reads 34.16. supports are ascending from 1.6538,1.6583 and 1.6623 Spot is 1.6637 while key resistances are 1.6680, 1.6731, 1.6745, 1.6757 and 1.6766.