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23 Apr 2013
Forex: GBP/USD extends the bounce off 1.5200
FXstreet.com (Barcelona) - The sterling is approaching the area of 1.5255/60 on Tuesday, intensifying the rebound from the key support at 1.5200. Recall that poor UK public sector figures plus CBI Industrial Trends survey below the median have combined to drag the cross to levels just below 1.5200, although managing to pick up pace later.
The cross would remain under pressure as the US manufacturing PMI and New Home Sales are due later.
GBP/USD is down 0.27% at 1.5249 as of writing, facing the next support at 1.5190 (38.2% of 1.4832-1.5412) ahead of 1.5188 (Mar lows) and then 1.5122 (50% of 1.4832-1.5412).
On the flip side, a break above 1.5301 (MA10d) would bring 1.5370 (high Apr.17) and then 1.5386 (high Apr.15).
The cross would remain under pressure as the US manufacturing PMI and New Home Sales are due later.
GBP/USD is down 0.27% at 1.5249 as of writing, facing the next support at 1.5190 (38.2% of 1.4832-1.5412) ahead of 1.5188 (Mar lows) and then 1.5122 (50% of 1.4832-1.5412).
On the flip side, a break above 1.5301 (MA10d) would bring 1.5370 (high Apr.17) and then 1.5386 (high Apr.15).