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GBP/USD treading water around 1.6130

FXStreet (Edinburgh) - The sterling is following the rest of the risk-associated assets on Wednesday, taking GBP/USD to the 1.6140/35 band.

GBP/USD weaker after data, eyes on FOMC

Spot is trading with marginal gains following UK data releases below expectations during September, coming down from peaks near 1.6150 pre-European open. The dominating lack of volatility remains intact ahead of the FOMC statement, confining the pair to trade in an unusual tight range. “A close above 1.6185 however is needed to confirm and introduce scope to the 1.6376/38.2% retracement”, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank.

GBP/USD key levels

The pair is now advancing 0.025 at 1.6135 and a surpass of 1.6182 (high Oct.28) would open the door to 1.6186 (high Oct.21) and then 1.6199 (50% of 1.6524-1.5873). On the flip side, a breakdown of 1.6099 (10-d MA) would aim for 1.6091 (Tenkan Sen) and finally 1.6018 (low Oct.24).

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