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14 Mar 2013
Forex: GBP/USD remains at gains
Having peaked at 1.4957 just before the London session opening bell, the GBP/USD eased off to 1.4915, but support at the daily opening price of 1.4923 was able to keep price action at gains.
The pair is currently trading around 1.4940 while investors will have to wait for the US economic calendar for more potential price action triggers. US jobless claims, PPI and FOMC Member Raskin speech are due.
“Although yesterday's test at 1.4910 support area failed, the bias here remains bearish below 1.4980 resistance and I favor a downmove towards 1.4780”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to initial resistance at 1.4980 and crucial on the upside at 1.5080.
The pair is currently trading around 1.4940 while investors will have to wait for the US economic calendar for more potential price action triggers. US jobless claims, PPI and FOMC Member Raskin speech are due.
“Although yesterday's test at 1.4910 support area failed, the bias here remains bearish below 1.4980 resistance and I favor a downmove towards 1.4780”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to initial resistance at 1.4980 and crucial on the upside at 1.5080.