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GBP/USD holds above lows as Dragi remains on the scenario

FXStreet (San Francisco) - The Sterling pared losses against the US Dollar as investors are expecting more details from Draghi on ECB plans.

The GBP/USD is now testing lows since September 10 at 1.6125 following a 125-pips decline from 1.6250. Currently, GBP/USD is trading at 1.6153, down -0.20% on the day, having posted a daily high at 1.6252 and low at 1.6129.

The FXStreet OB/OS Index is reflecting oversold hourly conditions, while the FXStreet Trend Index is slightly bearish.

GBP/USD levels

If the pair extends 1.6125 bounce, it will face next resistances at 1.6160 and 1.6200. On the downside, supports are at 1.6125, 1.6100 and 1.6050.

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