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Forex pairs in this Article » GBP/USD
FXStreet (Moscow) - GBP/USD got helped by USD weakness reaching 1.6433 high in the morning, but since then retraced back to 1.6410 area.

The pound has one hope – for Yellen

The pair went down yesterday slipping below 1.64, coming under pressure on two factors – EUR/GBP cross moves, and expectation on pessimistic Inflationary Report from the BOE. Nevertheless, the pair already regained the positions due to scheduled for today Yellen’s testimony before the Congress. The broad-based USD weakness may bring the pair even further to 1.6452 resistance level, followed by 1.6476 during the testimony.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6406, with support below at 1.6384, 1.6360 and 1.6338, with resistance above at 1.6430, 1.6452, and 1.6476. Hourly Moving Averages are largely bullish, with the 200SMA at 1.6387, and the daily 20EMA flat at 1.6425. Hourly RSI is neutral at 63.
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