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19 Feb 2013
Forex: GBP/USD attempts to regain 1.5500
The GBP/USD is having a hard time at regaining the 1.5500 area succesfully after trading lower since early this week. The pair tried the upside once yesterday and is being more insistent during today's London session.
Economic sentiment in both Germany (from 31.5 to 48.2) and Eurozone (from 31.2 to 42.4) improved in February survey by ZEW, beating consensus of 35.0 and 35.5, respectively. Current situation didn't do as well, dropping from 7.1 to 5.2 in Germany, instead of rising to 9.0 as expected.
“Current rebound above 1.5437 low should be considered corrective in nature, thus preceding next wave downwards, for a test of 1.5390”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to crucial resistance at 1.5550.
Economic sentiment in both Germany (from 31.5 to 48.2) and Eurozone (from 31.2 to 42.4) improved in February survey by ZEW, beating consensus of 35.0 and 35.5, respectively. Current situation didn't do as well, dropping from 7.1 to 5.2 in Germany, instead of rising to 9.0 as expected.
“Current rebound above 1.5437 low should be considered corrective in nature, thus preceding next wave downwards, for a test of 1.5390”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to crucial resistance at 1.5550.