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GBP/USD showing it's intent through 1.6300?

FXStreet (Guatemala) - GBP/USD is trading at 1.6315, down on the day, having posted a daily high at 1.6526 and low at 1.6296.

GBP/USD has ironed out a support along the 1.63 handle below 1.6320 resistance as we enter the closing hours of this week’s turbulent session. GBP/USD has been punishing bulls trying to buy dips on the way down since the ‘NO’ come out on top by some margin of 10 points. The language of the recent FOMC was still resident in the minds of investors though when the Fed was hinting that when rates are increased they may move higher at a faster rate than first anticipated. With much of the fuel taken out of Sterling’s recent come back, next week the pair is going to be at the mercy of how this recent number of events is finally digested and a trend could well be set in place one way or another as traders roll up their sleeves and become decisive on the path of the greenback medium term. Note that we have already seen the bears intent in breaking through 1.6300 to the lows so far at 1.6296.

GBP/USD levels

With spot trading at 1.6315, we can see next resistance ahead at 1.6320, 1.6347 (Weekly Classic R1), 1.6351 (Daily Classic PP), 1.6389 (Daily 20 SMA), 1.6395 and 1.6397. Support below can be found at 1.6302 (Hourly 100 SMA), 1.6293 (Daily Classic S1), 1.6247and 1.6245 (Hourly 200 SMA).

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