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GBP/USD found a ceiling at 1.6260

FXStreet (Moscow) - GBP/USD opened at 1.6250, and kept drifting lower since that time, posting 1.6216 session low in early Europe before reversing the move; currently, it is trading at 1.6246.

New era of pound

The pound stepped on the warpath, and it’s going to be an impressive show, as everybody loves USD now, but everybody understands the oversold nature of the poor cable. The market seems to outgrow the Scotland Independence saga, and started to realize that polls may say anything, but in reality very few people think that Edinburg will really leave London. And this explains the recent swift surge of the cable. Now, the key test for the pair may be in form of the looming US Retail Sales report. If the pound manages to survive even positive numbers, and stay above 1.62, it could be a sign of new era of the GBP recovery.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6237, with support below at 1.6203, 1.6152 and 1.6118 with resistance above at 1.6288, 1.6322, and 1.6373. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.6296, and the daily 20EMA bearish at 1.6449. Hourly RSI is bullish at 50.

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