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GBP/USD hangs around 1.61, shy to go higher

FXStreet (Moscow) - GBP/USD spent most of the time trading just below 1.61 in Asia; currently, it’s trading at 1.6094.

The pound ended last week below the key 1.61 resistance, although UK Q3 GDP numbers came out in line with expectations. There is growing conviction in the market that the BOE prefers to rise the interest rates in the second quarter, rather than in the first, as earlier expected. This may keep the pound under pressure in the short-term. The coming week is rather light in terms of British economic reports, thus, the pair may focus its attention on the US releases, and follow the general market trends.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6069, with support below at 1.6037, followed by 1.5986 and 1.5954 with resistance above at 1.6120, followed by 1.6152 and 1.6203. Hourly Moving Averages are bullish, with the 200SMA at 1.6057, and the daily 20EMA bearish at 1.6120. Hourly RSI is bullish at 60.

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