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Forex pairs in this Article » GBP/USD
FXStreet (Moscow) - GBP/USD was showing microscopic move higher during Asia, now settling around 1.6320 area.

PMI – we need to have a thorough picture

The pair settled above today’s central pivot point (1.6310) and moving higher reaching 1.6340 morning high in the morning. GBP/USD finally got some piece of positive news. Although the construction sector is not a big deal in the scope of the British economy, the pure understanding of the historically high PMI gives the impression of speeding GDP growth. Today’s release of positive Services PMI may be enough to give total rehabilitation to the pound, and open the way up. The initial target in this case may be at 1.6400 resistance level. Should the PMI brings some negative surprises, the move down will be limited by 1.6273 support level.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6310, with support below at 1.6273, 1.6220 and 1.6183, with resistance above at 1.6363, 1.6400 (R2), and 1.6453. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6490, and the daily 20EMA bearish at 1.6451. Hourly RSI is neutral at 57.
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