GBP/USD is crying on IP data sliding to recent lows

By FXstreet.com | August 06, 2014 AAA

FXStreet (Moscow) - GBP/USD slid to 1.6826 low on the worse than expected UK Industrial Production data.



British IP



GBP/USD tried to target 1.69 area on the recent positive surprises from the UK Service and Construction PMIs. However, the just released IP data ruined all the plans coming out at 0.3% m/m, 1.2% y/y vs 0.6% m/m, 1.5% y/y expected. It raised fears about the peaking British economy again, sending the pair back to 1.6826 low from which it rebounded to 1.6840 area by the moment.



What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6874, with support below at 1.6857, 1.6829 and 1.6812 with resistance above at 1.6902, 1.6919, and 1.6947. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.6915, and the daily 20EMA bearish at 1.6975. Hourly RSI is bullish at 55.



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