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14 Mar 2013
Forex: GBP/USD up around 1.4950
The sterling is extending its correction higher on Thursday, after the post-sales USD rally on Wednesday erased a previous attempt to follow through 1.4980
No calendar in the UK plus a light euro docket would leave the pound to the mercy of the risk trends, following its European counterpart.
At the moment, the cross is up 0.18% at 1.4947 with the immediate resistance at 1.4981 (high Mar.13) ahead of 1.5015 (MA10d) and then 1.5047 (high Mar.8).
On the flip side, a break below 1.4892 (low Mar.13) would expose 1.4832 (low Mar.12) and then 1.4803 (low Jun.23 2010).
No calendar in the UK plus a light euro docket would leave the pound to the mercy of the risk trends, following its European counterpart.
At the moment, the cross is up 0.18% at 1.4947 with the immediate resistance at 1.4981 (high Mar.13) ahead of 1.5015 (MA10d) and then 1.5047 (high Mar.8).
On the flip side, a break below 1.4892 (low Mar.13) would expose 1.4832 (low Mar.12) and then 1.4803 (low Jun.23 2010).