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GBP/USD bears unstoppable; 1.6080 support is history

FXStreet (Moscow) - GBP/USD broke below an important support zone of 1.6103/00 and reached the area of medium demand at 1.6080 on the back of USD broadband strength.

Does Carny love weak pound?

Traders were eager to take the British currency off their hands as the uncertainty about the Scottish vote make them nervous. The pound was under pressure against most major currencies and broke a number of important support levels - enough to spoil the technical picture for good. The currency is oversold and a healthy upside correction would be a healthy development, but investors prefer to sell on rebounds so far. Don’t miss Carney’s speech later today. If the Governor of the Bank of England fails to sound unmistakably upbeat, cable will be badly beaten once again.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6146, with support below at 1.6057, 1.6010 and 1.5921 with resistance above at 1.6193, 1.6282, and 1.6329. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.6684, and the daily 20EMA bearish at 1.6538. Hourly RSI is bullish at 55.

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