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GBP/USD ignores UK data, prepares for NFP

FXStreet (Moscow) - GBP/USD bottomed at 1.6286 in Asia, and showed shy attempts to move higher, currently nearing 1.6320 area.

Following the ECB

The weakness of the pair is impressive, especially given the positive British economic background, and high possibility to see the BOE tightening before the Fed. The pair is trading around February, 2014 lows, and may finally near the bottom soon, as the market started to price-in earlier tightening around that time, and around these levels. The just released Consumer Inflation expectations exceeded the previous numbers (2.8% vs 2.6%), but were completely ignored by the market. Now the focus turns to Non-Farm Payrolls Report, and it may become a hard test for the pound.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6375, with support below at 1.6284, 1.6237, and 1.6146 with resistance above at 1.6422, 1.6513, and 1.6560. Hourly Moving Averages are bearish, with the 200SMA at 1.6531 and the daily 20EMA bearish at 1.6611. Hourly RSI is bearish at 31.

United Kingdom Consumer Inflation Expectations climbed from previous 2.6% to 2.8%

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