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21 Feb 2013
Forex: GBP/USD bouncing off lows, eyes 1.5200
After dipping to the area around 1.5130, levels last seen in July 2010, the sterling is picking up pace and heading towards 1.5200 ahead of the opening bell in London.
The bearishness already surrounding the pound in the past sessions has accelerated yesterday after the hawkish tone from the FOMC minutes, dragging the cross to fresh lows.
At the moment, GBP/USD is losing 0.35% at 1.5180 facing the next support at 1.5125 (low Jul.21 2010) followed by 1.4949 (low Jul.12 2010) and then 1.4873 (low Jul.1 2010).
On the flip side, a breakout of 1.5240 (high Feb.21) would aim for 1.5268 (Lower Bollinger) and then 1.5452 (high Feb.20).
The bearishness already surrounding the pound in the past sessions has accelerated yesterday after the hawkish tone from the FOMC minutes, dragging the cross to fresh lows.
At the moment, GBP/USD is losing 0.35% at 1.5180 facing the next support at 1.5125 (low Jul.21 2010) followed by 1.4949 (low Jul.12 2010) and then 1.4873 (low Jul.1 2010).
On the flip side, a breakout of 1.5240 (high Feb.21) would aim for 1.5268 (Lower Bollinger) and then 1.5452 (high Feb.20).