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GBP/USD wobbling around 1.6300

FXStreet (Edinburgh) - The downside momentum in the sterling seems to have found decent support in the 1.6300 area, with the GBP/USD coming down from Wednesday’s peaks around 1.6420.

GBP/USD focus on Carney

The pair is following the selling sentiment in the risk-associated universe, although GBP-bears failed to push spot further down than 1.6280 so far. Ahead in the say, Governor Carney’s speech will be closely followed by traders in an otherwise uneventful UK docket. Paul Robson, Senior Trading FX Strategist at RBS, commented, “We hence look for the USD up-trend to remain intact and hold to our 1.60 or below year-end target for GBP/USD”.

GBP/USD levels to watch

At the moment the pair is losing 0.17% at 1.6310 with the next support at 1.6247 (low Sep.18) ahead of 1.6162 (low Sep.16) and finally 1.6052 (low Sep.10). On the upside, a break above 1.6341 (high Sep.25) would expose 1.6414 (high Sep.24) and then 1.6416 (high Sep.23).

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