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GBP/USD made a U-turn, as it touched 1.5-week low

FXStreet (Moscow) - GBP/USD opened the day at 1.6238, came under pressure, posting 1.5-week low at 1.6209, but made U-turn, rebounding to 1.6238 currently.

Too many news ahead

The week ahead is packed with first-tier data out of the UK, and this may keep the pound volatile during the coming days, however, the scheduled for today Money Supply and Mortgage Approvals reports are usually ignored by the market. Only large deviations from the forecasted levels may trigger some moves in the short-term. The initial target to the upside may be found at 1.6273 resistance, while 1.6176 support may become the nearest target to the downside.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6273, with support below at 1.6211, 1.6176 and 1.6114 with resistance above at 1.6308, 1.6370 and 1.6405. Hourly Moving Averages are bearish, with the 200SMA at 1.6335, and the daily 20EMA bearish at 1.6358. Hourly RSI is bearish at 26.

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