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11 Aug 2014

GBP/USD – how to rise on empty calendar

FXStreet (Moscow) - GBP/USD shows gradual recovery from open levels reaching 1.6793 by the moment.

U-turn

The pair is trying to find some arguments to recover at least part of the loses it incurred during the recent month. Weather the 1.6780 area is strong enough to trigger the turnaround remains to be seen, however, the scheduled for the week ahead key reports may help the pair to rise from its knees. For the moment, the 1.68 resistance area may become the minor barrier on the way to the nearest resistance at 1.6817, and on the back of Monday’s empty economic calendar the chances for the breakout are not very high.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6792, with support below at 1.6747, 1.6722 and 1.6677 with resistance above at 1.6817, 1.6862, and 1.6887. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.6861, and the daily 20EMA bearish at 1.6934. Hourly RSI is bearish at 39.
Aug 11, 2014

United Kingdom CB Leading Economic Index climbed from previous 0.5% to 0.6% in June

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Aug 11, 2014

New Zealand's Q2 retail sales expected to rise by 0.8% - BNZ

Stephen Toplis, Head of Research at BNZ believes that New Zealand's Q2 retail sales data, due out on Wednesday, will show 0.8% growth, below market consensus of a 1% rise.
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