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GBP/USD got no fuel from the UK IP data

FXStreet (Moscow) - GBP/USD failed to break above 1.61 resistance, and settled around 1.6075 before the UK data; it moved a couple of pips lower post the release, but currently returned to 1.6080.

IP data is out

The pound got nervous right before the UK Industrial Production release, as there were too much disappointment recently. It sent the pair below 1.61 to 1.6075 area. The IP report brought slightly negative results printing 0.0% m/m, 2.5% y/y vs 0.0% m/m, 2.6% y/y expected. However, Manufacturing data came above expectations with 3.9% rise vs 3.4% forecasted. The data confirmed the British economy is still strengthening, but at slower pace, leaving the market without additional arguments to buy the cable. The pair reacted with a knee-jerk slide to 1.6073 initially, before rebounding back to 1.6080 area.

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 1.6186, and the daily 20EMA bearish at 1.6254. Hourly RSI is bullish at 65.

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