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26 Mar 2013
Forex: GBP/USD orbiting around 1.5200
FXstreet.com (Barcelona) - The sterling is inching higher on Tuesday after yesterdays sell off, hovering over the key resistance of 1.5200 in an attempt to follow through that level.
The empty docket in the UK would leave the pound to the mercy of the risk trends, following its European peer, against the backdrop of the fragile situation in Cyprus.
“Resistance is at 1.5321 ahead of 1.5424 - which should hold any upside. Support is at 1.5102 ahead of 1.5027”, suggested G.Yu and G.Berry at UBS, keeping at the same time the neutral bias on the cross.
GBP/USD is now up 0.20% at 1.5204 with the next resistance at 1.5262 (high Mar.25) en route to the psychological level of 1.5300 and then 1.5330 (high Feb.22).
On the flip side, a break below 1.5143 (low Mar.25) would expose 1.5092 (MA10d) and finally 1.5090 (low Mar.21).
The empty docket in the UK would leave the pound to the mercy of the risk trends, following its European peer, against the backdrop of the fragile situation in Cyprus.
“Resistance is at 1.5321 ahead of 1.5424 - which should hold any upside. Support is at 1.5102 ahead of 1.5027”, suggested G.Yu and G.Berry at UBS, keeping at the same time the neutral bias on the cross.
GBP/USD is now up 0.20% at 1.5204 with the next resistance at 1.5262 (high Mar.25) en route to the psychological level of 1.5300 and then 1.5330 (high Feb.22).
On the flip side, a break below 1.5143 (low Mar.25) would expose 1.5092 (MA10d) and finally 1.5090 (low Mar.21).