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GBP/USD ignored the disappointing Trade Balance

FXStreet (Moscow) - GBP/USD is still trading above 1.58 area practically ignoring the UK Trade Balance.

The pound has become immune to weaker-than-expected data, as just released Trade Balance was practically ignored by the currency. No wonder, given the series of disappointments from PMI releases, and the recent impressive sell-off of the pair. The yesterday’s Services PMI printed lowest level since May 2013, and it pushed the pair to 14-month low. The pair may take a pause for now waiting for the key US release to come, and if the American report proves to be better than expected, it may kill any hope for the pound sending it below 1.58 round number.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.5890, with support below at 1.5777, followed by 1.5719 and 1.5606 with resistance above at 1.5948, followed by 1.6061 and 1.6119. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.6002, and the daily 20EMA bearish at 1.6041. Hourly RSI is bearish at 32.

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