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Currency Analyst since 2010

GBP/USD remains resilient

GBP/USD remains above the psychological level of $1.6200. It seems that even lower-than-expected construction PMI (58.9 vs. the forecast of 60.1) didn’t discourage GBP bulls. Pound’s driven up by the US budget concerns and strong housing component and the improvement in market sentiment. Still the pair’s below yesterday’s high at $1.6260.

Resistance is at $1.6227, $1.6260, $1.6300. Support is at $1.6160, $1.6125, $1.6100.

Chart. H4 GBP/USD

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