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22 Apr 2014

GBP/USD to test 1.70 handle?

FXStreet (Guatemala) - Currently, GBP/USD is trading at 1.6789, up 0.01% on the day, having posted a daily high at 1.6794 and low at 1.6791.

The surge in 3-month employment gains in February quickly saw the market re-price expectations for a less dovish BoE and GBP/USD test its 2014 highs last week. Strategists at RBS note suggested that the Fed's dovish message is becoming begrudgingly accepted while the BoE's dovish outlook is more under challenge – “That divergence may put the bias toward a test of 1.70, though we think the air is increasingly thinning for GBP, particularly above 1.70. March retail sales this week is the key data release”.

Daily RSI sits at 63.89, in neutral territory

Looking to momentum indicators, the hourly 200 SMA is currently at 1.6794, up from the last close at 1.6769 and climbing. Over the past 20 days, the exponential average closing price is 1.6701, and trending higher.

GBP/USD Levels

Current price is 1.6792, with resistance ahead at 1.6794 (Daily High), 1.6797 (Monthly High), 1.6797 (Weekly High), 1.6797 (Annual High) and 1.6797 (3 Year High). Next support to the downside can be found at 1.6792 (Daily Open), 1.6791 (Daily Low), 1.6790 (Daily Classic PP), 1.6787 (Hourly 100 SMA) and 1.6782 (Yesterday's Low). Looking at price patterns, we can see a Doji 1-hour candlestick formation.
Apr 21, 2014

Session Recap: EUR/USD extends somehow its decline below 1.3800

Despite Monday was a quiet session, the EUR/USD performed a somehow volatile day as the pair traded as high as 1.3830 in the European session and 1.3785 in the American morning. Yes, not a too big movement at all, but it was decent if you look into the chart.
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Apr 22, 2014

Australian government in discomfort with RBA neutral stance

According to the Financial Review website, the Australian government has recently expressed its concern to the Reserve Bank of Australia with regards to their shift to 'neutral' in policy stance.
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