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GBP/USD bounced from session lows ignoring UK data

FXStreet (Moscow) - GBP/USD fell to 1.6301 session low after it failed to break above 1.6390 area. The UK Public Sector Finance data helped the pair move to 1.6340 area.

When PSB is out

The pair is currently trading at 1.6349 in the middle of the session range. It failed to break above 1.6390 resistance, and reversed the move sliding to 1.6320/25 area where large buyers’ interest is noted. The just released Public Sector Net Borrowing came out worse than expected at stg10.883 bln vs stg10.00 bln expected. Moreover, the separate report didn’t meet expectations showing just 41.6K rise of Mortgage Approvals instead of 42.9 expected. However, the pound practically ignored the data, as the numbers traditionally do not have significant impact on the currency. The cable is again in the recovery mode targeting the nearest resistance at 1.6392.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6340, with support below at 1.6310, 1.6258, and 1.6228, with resistance above at 1.6392, 1.6422, and 1.6474. Hourly Moving Averages are bullish, with the 200SMA bullish at 1.6361, and the daily 20EMA bearish at 1.6378. Hourly RSI is bearish at 34.

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