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Trading news
4 Mar 2013
Forex: GBP/USD in lows around 1.5025/30
The sterling is trading on the back foot on Monday, extending Friday’s correction lower and testing fresh intraday lows in the vicinity of 1.5020, as risk appetite is shrinking on Chinese woes.
Key week ahead for the sterling, as the BoE will hold its monetary policy meeting. The sterling is posed to suffer, as the likeliness of further easing by the central bank has grown bigger as of late.
At the moment, GBP/USD is losing 0.10% at 1.5027 facing the immediate support at the psychological level at 1.5000 followed by 1.4949 (low Jul.12 2010) and then 1.4873 (low Jul.1 2010).
On the upside, a breakout of 1.5173 (hourly high Mar.1) would expose 1.5223 (high Feb.28) and then 1.5235 (MA10d).
Key week ahead for the sterling, as the BoE will hold its monetary policy meeting. The sterling is posed to suffer, as the likeliness of further easing by the central bank has grown bigger as of late.
At the moment, GBP/USD is losing 0.10% at 1.5027 facing the immediate support at the psychological level at 1.5000 followed by 1.4949 (low Jul.12 2010) and then 1.4873 (low Jul.1 2010).
On the upside, a breakout of 1.5173 (hourly high Mar.1) would expose 1.5223 (high Feb.28) and then 1.5235 (MA10d).