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3 Apr 2013
Forex: GBP/USD back above 1.5100
FXstreet.com (Barcelona) - After a brief knee-jerk to the proximities of 1.5080 on softer-than-expected UK Construction PMI, the sterling is now trading back above the key resistance of 1.5100.
“Yesterday’s sharp sell-off was staged from just under resistance at 1.5269. Focus is on support at 1.5027, a break below this would open 1.4832”, suggested Strategists G.Yu and G.Berry at the Swiss lender UBS.
At the moment, the cross is up 0.07% at 1.5114 and a surpass of 1.5259 (hourly high Apr.2) would expose 1.5280 (high Mar.25) and then 1.5330 (high Feb.22).
On the flip side, support levels line up at 1.5094 (MA21d) followed by 1.5092 (low Mar.27) and then 1.5090 (low Mar.21).
“Yesterday’s sharp sell-off was staged from just under resistance at 1.5269. Focus is on support at 1.5027, a break below this would open 1.4832”, suggested Strategists G.Yu and G.Berry at the Swiss lender UBS.
At the moment, the cross is up 0.07% at 1.5114 and a surpass of 1.5259 (hourly high Apr.2) would expose 1.5280 (high Mar.25) and then 1.5330 (high Feb.22).
On the flip side, support levels line up at 1.5094 (MA21d) followed by 1.5092 (low Mar.27) and then 1.5090 (low Mar.21).