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GBP/USD struggles to regain 1.6000

FXStreet (Córdoba) - After a brief visit to levels sub-1.6000, GBP/USD found buyers and recovered ground as the greenback corrects across the board following a steep rally triggered by Fed’s optimist statement.

GBP/USD bottomed out at 1.5960, marking its lowest level in 2 weeks, but managed to regain the 1.60 mark most recently. At time of writing, GBP/USD is trading at 1.6007, virtually unchanged on the day, after losing 0.74% Wednesday.

GBP/USD technical levels


If GBP/USD consolidates above 1.6000, next resistances could be found at 1.6085 (Oct 29 intraday level) and 1.6100 (psychological level). On the other hand, immediate supports are seen at 1.5960 (intraday low) and 1.5940 (Oct 16 low).

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