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GBP/USD started Monday with a mild rebound

FXStreet (Moscow) - GBP/USD followed the EUR/USD steps showing recovery from 1.6305 at the open to session high at 1.6363, before retreating to current 1.6350 area.

Market hostage

Although Scotland voted to stay within the UK, we saw a “hangover effect” in the market on Friday. The investors started to realize there are even more political problems ahead, as almost half of the Scots sought for independence, and now the British government will have to pay attention to their opinion. All in all, such a divergence within the UK doesn’t play well for the pound as well, and this could be a possible reason of the Friday’s pair slide. Empty economic calendar of the UK leaves the pound without catalysts for moves, thus, the pair may become a hostage of market sentiment. The initial target to the upside may be found at 1.6449, and the downside may be limited by 1.6207.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6366, with support below at 1.6207, 1.6124, and 1.5965, with resistance above at 1.6449, 1.6608, and 1.6691. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.6260, and the daily 20EMA flat at 1.6379. Hourly RSI is bearish at 50.

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