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GBP/USD hesitant marginally below 1.6000 pivot

FXStreet (Moscow) - GBP/USD  poked at 1.6000 pivot, but fresh offers on approach pushed it back towards 1.5990. The pair is trading marginally higher on the day after having started the session at 1.5982.

GBP/USD dipped to 1.5869 only to recover towards 1.5976 by the end of Wednesday. While pair is influenced mostly by USD sentiments, GBP traders may get something fresh to chew on as UK publishes Industrial production numbers and the BOE decide on monetary policy. No change on policy rate is expected, though the BOE monetary policy statement may contain some hints on further policy developments. From the technical point of view keep an eye at 1.5955 (Asian low). Once this support is taken out, the downside may be extended towards 1.5900 pivot with strong demand on approach. On the upside the resistance is seen at 1.6000 and 1.6060

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.5956, with support below at 1.5890, followed by 1.5802 and 1.5736 with resistance above at 1.6044, followed by 1.6110 and 1.6198. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.6034, and the daily 20EMA bearish at 1.6062. Hourly RSI is bullish at 55.

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