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GBP/USD claws to 1.6100 ahead of Europe

FXStreet (Moscow) - GBP/USD  started the day marginally above 1.6100 and settled at 1.6109 after initial dip to the Asian low at 1.6089; the pair is rangebound ahead of European opening.

GBP/USD has been growing since Wednesday on the back of USD downside correction across the board. The pair managed to finish the previous week with marginal gains at 1.6087 after initial dip to new multi-year lows at 1.5874. This week is going to be less volatile, though we have a couple of big events later during the week that may trigger large GBP movements (BOE minutes, UK retail sales and GDP are worth noting). Today’s calendar is next to empty, so the pair is likely to be influenced by technical factors. Keep an eye at 1/6100 support. Once it is broken, the downside may be extended to Asian low at 1.6087

What are today’s key GBP/USD levels?



Today's central pivot point can be found at 1.6085, with support below at 1.6039, followed by 1.5985 and 1.5940 with resistance above at 1.6138, followed by 1.6183 and 1.6237. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.6056, and the daily 20EMA bearish at 1.6143. Hourly RSI is bullish at 57.

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