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GBP/USD not ready for 1.6100 yet

FXStreet (Moscow) - GBP/USD  spiked above 1.6100 pivot early in Asian, but failed to hold ground. The pair is consolidating Thursday gains in a narrow range limited by 1.6109 on the upside and 1.6068 on the downside.

No news is good news as the old saying goes, and it is more than true when it comes to cable. The British currency returned to the area above 1.600 after initial drop towards 1.5940 on empty calendar on Thursday. The upside movement off Asian lows was caused mainly by technical factors and mixed US macro statistics that failed to support USD demand. The pair has a good chance to finish the week nearly unchanged after a crash towards multi-year low at 1.5874 on the back of weak inflation numbers. Weekly close above 1.6000 would suggest that GBP bears are getting tired and some more consolidation with bullish bias may be in store.

What are today’s key GBP/USD levels? 



Today's central pivot point can be found at 1.6043, with support below at 1.5986, followed by 1.5885 and 1.5828 with resistance above at 1.6144, followed by 1.6201 and 1.6302. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.6054, and the daily 20EMA bearish at 1.6148. Hourly RSI is bullish at 58.

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