GBP/USD slowed down as 1.7000 resistance looms large

By FXstreet.com | June 13, 2014 AAA

FXStreet (Moscow) - GBP/USD is creeping higher at the start of the European session as traders a mulling over Mark Carney’s comments; 1.7000 resistance is in focus.



MPC minutes will clear things out



Now that Carney let the cat out of the bag, the looming MPC minutes from the recent BOE meeting may become the one that will dot all the “i”s, as there are some mild expectations for the divergence within the MPC camp. There has been no divergence in votes on interest rate policy since July 2011, and hardly will it be in coming months, however, the diverging views and comments are quite possible. And this may be enough to push the pair higher again with initial target at 1.7000 resistance level.



What are today’s key GBP/USD levels?



Today's central pivot point can be found at 1.6882, with support below at 1.6833, 1.6736, and 1.6687 with resistance above at 1.6969, 1.7028, and 1.7125. Hourly Moving Averages are bullish, with the 200SMA at 1.6782, and the daily 20EMA flat at 1.6804. Hourly RSI is bullish at 83.



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD sitting pretty despite lower CPI’s
    Forex News

    GBP/USD sitting pretty despite lower CPI’s

  2. GBP/USD technical are mixed - Scotiabank
    Forex News

    GBP/USD technical are mixed - Scotiabank

  3. Still solid GDP growth - BNP
    Forex News

    Still solid GDP growth - BNP

  4. GBP/USD extends gains, nears 1.6100
    Forex News

    GBP/USD extends gains, nears 1.6100

  5. USDOLLAR Breaks October Downtrend, GBP’s GDP Rally Fizzles
    Forex News

    USDOLLAR Breaks October Downtrend, GBP’s GDP Rally Fizzles

Trading Center