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GBP/USD attacks 1.63 area again

FXStreet (Moscow) - GBP/USD rebounded from Asian low at 1.6248 to 1.6299 session high in early Europe; it’s attempting to refresh yesterday’s highs.

MPC minutes may disappoint

Yesterday’s sharp movements of the pound could be not only a reaction to rumors, but also the positioning before the key events of Wednesday – the MPC minutes, and UK labor report. The former may bring some disappointments, as the two August hawks could have changed their minds during the recent meeting. We saw several British reports confirming weaker than expected wage inflation and subdued CPI growth. These arguments could have returned Ian Mccafferty and Martin Weale to dovish camp, and this news may send the pair plunging.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6251, with support below at 1.6189, 1.6100, and 1.6038, with resistance above at 1.6340, 1.6402, and 1.6491. Hourly Moving Averages are bullish, with the 200SMA at 1.6210, and the daily 20EMA bearish at 1.6400. Hourly RSI is bullish at 61.

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