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GBP/USD wants to capture 1.61 area, and settle above


FXStreet (Moscow) - GBP/USD opened the day at 1.6081, retreated to 1.6024 session low, before another attempt of recovery above 1.61 area.

To be loved again

The pound is trading close to yearly lows on the back of unquestionable dollar dominance. The pair broke below September bottom at 1.6050 and rushed to another area of strong support around 1.5950 on last Friday. However, while 1.59 area stays intact, there is some hope for the cable to resume a recovery after 3-month downtrend. Industrial production data out of the UK may help the pair to regain supporters again. Stronger than expected readings are needed to see the pair moving to 1.6137 resistance.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6046, with support below at 1.5991, followed by 1.5900 and 1.5845 with resistance above at 1.6137, followed by 1.6192 and 1.6283. Hourly Moving Averages are largely bullish, with the 200SMA bearish at 1.6190, and the daily 20EMA bearish at 1.6254. Hourly RSI is bullish at 57.

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