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GBP/USD having hard time rising above 1.6330

FXStreet (Moscow) - GBP/USD retreated from Asian high at 1.6331, sliding to 1.6285 low at the Europe opening; it is trading at 1.6310.

Carney did his outmost

Carney did hint on the looming rate hike saying “rate increase case has become more balanced” during his yesterday’s speech. If the market were not so obsessed with the USD popularity, this could be a serious reason to send the pair soaring. The key barrier on the way higher for the pair is USD, and while the US economy is showing stable pace of recovery, the pound will have hard time strengthening. As for the technical picture, the nearest target to the upside may be found at 1.6350 followed by 1.6380 if broken. The downside is defended by strong 1.6280/70 support area.

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 1.6330, and the daily 20EMA bearish at 1.6370. Hourly RSI is bearish at 41.

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