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4 Apr 2013
The sterling gained more than 150 pips since today’s lows in the boundaries of 1.5040, piercing for a few moments the key resistance of 1.5200 pushed by increasing buying interest after the BoE statem
FXstreet.com (Barcelona) - The sterling gained more than 150 pips since today’s lows in the boundaries of 1.5040, piercing for a few moments the key resistance of 1.5200 pushed by increasing buying interest after the BoE statement.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, argued, “Further consolidation remains on the cards. While capped by the 1.5269 June 2012 low, we will maintain an immediate bearish bias”. The expert added that a close below 1.5101 (20-day moving average) would trigger further downside to the 1.500 area en route to 1.4832.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, argued, “Further consolidation remains on the cards. While capped by the 1.5269 June 2012 low, we will maintain an immediate bearish bias”. The expert added that a close below 1.5101 (20-day moving average) would trigger further downside to the 1.500 area en route to 1.4832.