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GBP/USD got its food for thoughts from the MPC

FXStreet (Moscow) - GBP/USD slid below 1.61, posting 1.6054 just before the minutes release; the pair reached 1.6037 post data.

The pound came under pressure before the MPC meeting minutes were released, as the pair reacted to the speculations, McCafferty did not vote for a rate hike. It sent the cable below 1.61 to 1.6054, where it met the release. The minutes showed the two “hawks” were still in favor of the rate hike during the last MPC meeting, but it didn’t stop the pound from falling. The key trigger was the phrase that rate hike may leave UK vulnerable to shocks. The pair reacted with a slide reaching 1.6037. However, the further move down can be limited, as there are not enough arguments in favor of the sell-off. The rebound may send the pair back to 1.6085 initially.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6085, with support below at 1.6009, and 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 26.

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