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13 Mar 2013
Forex: GBP/USD sidelined around 1.4920/25
The sterling is extending a consolidation pattern around the area of 1.4920/25 as we enter the last part of the NA session on Wednesday.
Solid data from the US retail sales hampered the incipient intraday recovery seen in the sterling that pushed the cross above 1.4980
At the moment, GBP/USD is up 0.18% at 1.4926 with the next resistance at 1.5015 (MA10d) ahead of 1.5047 (high Mar.8) and then 1.5083 (high Mar.7).
On the flip side, a breakdown of 1.4832 (low Mar.12) would aim for 1.4803 (low Jun.23 2010) and finally 1.4776 (Lower Bollinger).
Solid data from the US retail sales hampered the incipient intraday recovery seen in the sterling that pushed the cross above 1.4980
At the moment, GBP/USD is up 0.18% at 1.4926 with the next resistance at 1.5015 (MA10d) ahead of 1.5047 (high Mar.8) and then 1.5083 (high Mar.7).
On the flip side, a breakdown of 1.4832 (low Mar.12) would aim for 1.4803 (low Jun.23 2010) and finally 1.4776 (Lower Bollinger).