Just looking in the Tower it shows legendary gear for Lvl 20 which makes you assume the level cap will be 20 for the launch date. This isnt necessarily a bad thing because it will be probably take a lot of game time to reach level 20.
Who knows, maybe through DLC and updates and such there will be an increase in the level cap.
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I'm 95% sure the max level will not be 20 my friend, they showed a screenshot which if you look carefully at the bottom says "Level 28 Hunter" or something like that :)