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7 Mar 2014
GBP/USD is a slow burner on 1.6730
FXStreet (Guatemala) - GBP/USD has been slowing down on the free fall that was the markets reaction to decent jobs numbers from the states. The pair is slowing down between 1.67’ teens and the thirties as we enter the closing stages of the week.
Karen Jones, chief analyst at Commerzbank suspects that the market will need to break back below 1.6535 (50% retracement) in order to re-focus attention on to the 1.6259/29 support which remains key (September high and the 23.6% retracement of the move up from July 2013).
GBP/USD Levels
The 20 DMA is 1.6641, the 50 DMA is 1.6530 and the 200 DMA is 1.5973. RSI (14) reads 41.86. Supports are ascending from 1.6640, 1.6656, 1.6680 and 1.6714. Spot is 1.6731 while resistances are 1.6777, 1.6823, 1.6845 and 1.6879.
Karen Jones, chief analyst at Commerzbank suspects that the market will need to break back below 1.6535 (50% retracement) in order to re-focus attention on to the 1.6259/29 support which remains key (September high and the 23.6% retracement of the move up from July 2013).
GBP/USD Levels
The 20 DMA is 1.6641, the 50 DMA is 1.6530 and the 200 DMA is 1.5973. RSI (14) reads 41.86. Supports are ascending from 1.6640, 1.6656, 1.6680 and 1.6714. Spot is 1.6731 while resistances are 1.6777, 1.6823, 1.6845 and 1.6879.