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GBP/USD got another life from Carney, above 1.6720

FXStreet (Moscow) - GBP/USD gapped higher at the open on Carney interview, and is still trading around 1.6720 area at the moment.

Rebound on the horizon

The pound practically ignored the Friday’s stronger than expected GDP data, as the market is mostly focused on the inflation indicators at the moment. However, it did react to the soothing words of Carney in newspaper interview where he hinted inflation may be not the most important for rates expectations. We will still watch the UK CPI and the Retail Sales reports, however, in current circumstances the latter could be more important when the former. The pound was heavily beaten recently, thus, the bottom has probably been found already, and the corrective rebounds are not ruled out from now on provided fundamentals help. The next target to the upside may lie at 1.6751.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6690, with support below at 1.6678, 1.6665 and 1.6653 with resistance above at 1.6728, 1.6751 and 1.6793. Hourly Moving Averages are bullish, with the 200SMA bearish at 1.6777, and the daily 20EMA bearish at 1.6852. Hourly RSI is bullish at 71.

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