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GBP/USD reached 1.6050 with GDP help

FXStreet (Moscow) - GBP/USD paused at 1.6030 before the UK GDP, and moved to 1.6050 right after the release.

The pound was nervous before the key UK report of the week, as today it could have got the last chance for rebound before the weekend. The British GDP came out as expected at 0.7% q/q and 3.0% y/y in the third quarter. AS we see, the numbers were not that better showing still good pace of growth in the UK. The data was met with a sigh of relief, as the market expected to see worse than expected reading on the back of many disappointing reports seen before. The pound rose to 1.6050, and may move higher targeting 1.6096 resistance, once 1.6063 is broken.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6028, with support below at 1.5995, followed by 1.5960 and 1.5927 with resistance above at 1.6063, followed by 1.6096 and 1.6131. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.6049, and the daily 20EMA flat at 1.6123. Hourly RSI is bearish at 46.

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