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GBP/USD getting prepared for the first test – back to 1.61

FXStreet (Moscow) - GBP/USDopened the day at 1.6111, and spent Asian session drifting higher; it is trading at 1.6113 in early Europe.

Today the pair will get the first test of the week. The scheduled for release MPC minutes usually don’t attract investors’ attention, but today it’s different. Last time the minutes showed two voters in favor of rate hike. Will it be different this time? We already know the latest reports signal the British economy is slowing down the growth pace, and this is a strong argument in favor of neutral stance from the MPC. If the “hawks” prefer not to change their decision, it may help the pound to strengthen with initial target at 1.6161 resistance.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6135, with support below at 1.6085, followed by 1.6059 and 1.6009 with resistance above at 1.6161, followed by 1.6211 and 1.6237. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.6061, and the daily 20EMA flat at 1.6141. Hourly RSI is bearish at 44.

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