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GBP/USD keeps climbing up from Asian lows

FXStreet (Moscow) - GBP/USD rebounded from Asian low 1.6223, reaching 1.6286 high in early Europe; it is trading at 1.6272, currently.

Was it the bottom?

There is some hope among the pound bulls that the pair found the bottom back on September, 10, and now it’s time for medium-term uptrend. However, given the broad-based popularity of the USD the pair may have hard time rising without significant catalysts. The scheduled for release today revised Q2 GDP report may give the required reasons to rise, provided it is revised higher from the previous levels. In this case the pair may get a boost rushing to strong resistance at 1.6370, neglecting all the minor barriers.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6244, with support below at 1.6211, 1.6182 and 1.6149 with resistance above at 1.6273, 1.6306 and 1.6335. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.6329, and the daily 20EMA bearish at 1.6347. Hourly RSI is bullish at 52.

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