GBP/USD ignored the Mortgage data, frozen at 1.6780

By FXstreet.com | July 29, 2014 AAA

FXStreet (Moscow) - GBP/USD came to 1.6980 area right before the Mortgage data was released, and hardly moved right after.



First data is out



The pair showed directionless moves before the first UK report of the week was released. The mortgage approvals numbers usually are skipped by the market, as it has no direct impact on the broad economy stance. However, given the BOE fears of housing bubble evolving, the report is worth seeing. The number of Mortgage Approvals in June came at 67.196K vs 62.600K expected confirming the monetary authorities need not worry about the rising pressure in this sector. The pair practically ignored the data meaning, there are narrow ranges in store.



What are today’s key GBP/USD levels?



Today's central pivot point can be found at 1.6986, with support below at 1.6969, 1.6956 and 1.6939 with resistance above at 1.6999, 1.7016, and 1.7029. Hourly Moving Averages are bearish, with the 200SMA at 1.7048, and the daily 20EMA bearish at 1.7052. Hourly RSI is bearish at 34.



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