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11 Jun 2014
GBP/USD finally got the data, and targeted at 1.68
FXStreet (Moscow) - GBP/USD showed positive sentiment ahead of UK labor data release posting session high at 1.6769, weakening a bit before the data and moving to 1.6780 right after the report was published.
Labor data is out
The pair rebounded from 1.6740 support area in expectation of labor data, and added about 30 pips just before the release. The Unemployment rate exceeded expectations coming out at 6.6% vs 6.7% forecast, and reaching the lowest level from March, 2009. Claimant Count change also brought positive surprise printing -27.4 vs -25K expected and confirming the still going on trend of the market recovery. As for Average Earnings, it came out below expectations at 0.9% vs 1.2% forecast. The pair reached 1.6780 high right after the release, and the further move up is not ruled out with the next target at 1.6802.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6773, with support below at 1.6727, 1.6698, 1.6652 with resistance above at 1.6802, 1.6848, and 1.6877. Hourly Moving Averages are bearish, with the 200SMA at 1.6765, and the daily 20EMA flat at 1.6791. Hourly RSI is bearish at 36.
Labor data is out
The pair rebounded from 1.6740 support area in expectation of labor data, and added about 30 pips just before the release. The Unemployment rate exceeded expectations coming out at 6.6% vs 6.7% forecast, and reaching the lowest level from March, 2009. Claimant Count change also brought positive surprise printing -27.4 vs -25K expected and confirming the still going on trend of the market recovery. As for Average Earnings, it came out below expectations at 0.9% vs 1.2% forecast. The pair reached 1.6780 high right after the release, and the further move up is not ruled out with the next target at 1.6802.
What are today’s key GBP/USD levels?
Today's central pivot point can be found at 1.6773, with support below at 1.6727, 1.6698, 1.6652 with resistance above at 1.6802, 1.6848, and 1.6877. Hourly Moving Averages are bearish, with the 200SMA at 1.6765, and the daily 20EMA flat at 1.6791. Hourly RSI is bearish at 36.