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GBP/USD on the back foot after a failed recovery attempt

FXStreet (Moscow) - GBP/USD tried to recover early in Asia but managed to climb only to 1.6332 before making a U-turn and touching an intraday low at 1.6303; currently the pair is trading at 1.6306, marginally on the day.

Back on the sloping path

GBP/USD lived through another negative day on Thursday. The pair touched the low at 1.6276, but managed to close above 1.6300 pivot. GBP/USD is sensitive to general USD factors, which makes it vulnerable to new losses as the American currency is growing across the board and there are no sights of impending changes. No GBP-related data is scheduled for today, thus US GDP data would keep the markets at the edge of the seat. Positive release is likely to support USD growth story. In this case GBP/USD might move towards the initial support at 1.6276 (yesterday’s low) that is followed by 1.6267 (previous week’s open). The resistance is seen at Asian high of 1.6332 and yesterday’s open at 1.6341

strong>What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6312, with support below at 1.6282, 1.6244 and 1.6214 with resistance above at 1.6350, 1.6380 and 1.6418. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.6329, and the daily 20EMA bearish at 1.6370. Hourly RSI is bearish at 43.

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