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GBP/USD – who ruined the pound’s karma?

FXStreet (Moscow) - GBP/USD is trading around November,2013 lows posting 1.6063 low, and rebounding to current 1.6080 area.

Waiting for rebound

The pound has become too emotional recently, especially in cases when it is somehow related to Scotland. However, the looming series of economic data coupled with the BOE’s Carney speech may shift the focus of the market today. Moreover, if the data comes out above expectations the rebound may be impressive given the number of shorts accumulated during the 2-month sell-off.

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 at 1.6448, and the daily 20EMA bearish at 1.6538. Hourly RSI is bullish at 31.

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