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GBP/USD failed to break above 1.62

FXStreet (Moscow) - GBP/USD posted weekly high at 1.6196 before reversing the move and sliding to current 1.6165 area.


The pair is trying hard to break above 1.62 area, but without fundamental catalyst it is going to be a hard task. The BOE meeting is on the calendar. It has come again, and the pair is going to ignore it again. No changes in monetary policy course is expected this year, and given the recent slowing of the UK growth indicators, the number of believers in Q1-2015 rate hike is constantly decreasing. The only thing may get the pound moving is the MPC minutes scheduled for release two weeks later. As for now, the currency is trading at 1.6160 close to 1.6128 central pivot point and with possible target at 1.6223 to the upside.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6128, with support below at 1.6072, followed by 1.5977 and 1.5921 with resistance above at 1.6223, followed by 1.6279 and 1.6374. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.6138, and the daily 20EMA bearish at 1.6232. Hourly RSI is bullish at 65.

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