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20 Oct 2014
GBP/USD confirmed a breakout of 1.61
FXStreet (Moscow) - GBP/USD finally broke above 1.61, and rushed higher to current 1.6120 area.
Slow European trading on the back of practically empty economic calendar of Monday didn’t prevent the pound from rising above 1.61. As the breakout is confirmed, the pair targeted 1.6120/25 area, where large sellers’ interest is rumored. If broken, the next barrier with large amount of sellers’ bid noted around 1.6150/60. However, the correction lower from current levels is not ruled out, and in this case the broken 1,61 resistance level may become a key support.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6085, with support below at 1.6039, followed by 1.5985 and 1.5940 with resistance above at 1.6138, followed by 1.6183 and 1.6237. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.6057, and the daily 20EMA bearish at 1.6143. Hourly RSI is bullish at 57.
Slow European trading on the back of practically empty economic calendar of Monday didn’t prevent the pound from rising above 1.61. As the breakout is confirmed, the pair targeted 1.6120/25 area, where large sellers’ interest is rumored. If broken, the next barrier with large amount of sellers’ bid noted around 1.6150/60. However, the correction lower from current levels is not ruled out, and in this case the broken 1,61 resistance level may become a key support.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6085, with support below at 1.6039, followed by 1.5985 and 1.5940 with resistance above at 1.6138, followed by 1.6183 and 1.6237. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.6057, and the daily 20EMA bearish at 1.6143. Hourly RSI is bullish at 57.