FXStreet (Moscow) - GBP/USD opened at 1.6831, reached 2-month low at 1.6800, and rebounded to 1.6815 by the moment.



Waiting for Trade Data



The pair as we expected took the yesterday’s ECB meeting as the key for movements, and reacted to the news through EUR/GBP direction. The initial attempt of the cross to break above 0.7950, put the pound under pressure. And even the following slide to 0.7930 didn’t help GBP/USD to recover all the losses. The risk aversive moods is another factor of pressure for the pair. Trade Balance data is on tap for today, and really good numbers are needed for the pair to recover with initial target at 1.6840 pivot point.



What are today’s key GBP/USD levels?



Today's central pivot point can be found at 1.6840, with support below at 1.6816, 1.6798 and 1.6774 with resistance above at 1.6858, 1.6882, and 1.6900. Hourly Moving Averages are bearish, with the 200SMA at 1.6879, and the daily 20EMA bearish at 1.6951. Hourly RSI is bearish at 35.



Related Articles
  1. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  2. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  3. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  4. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  5. Investing

    Financial News Comparison: Bloomberg Vs. Reuters

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  6. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
  7. Forex Education

    The Top Uses For P2P Currency Exchange

    Peer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
  8. Forex

    Steps To Open An Offshore Forex Account

    Here is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
  9. Entrepreneurship

    Top Forex Trading Apps

    A brief overview of the top apps that help forex traders with on time information, charts and more.
  10. Investing Basics

    The Risks Of Buying Bitcoin

    Virtual currency is probably here to stay, but what about Bitcoin specifically? Does it have a first-to-market advantage? What are the risks involved?
RELATED TERMS
  1. No results found.

You May Also Like

COMPANIES IN THIS ARTICLE
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!