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17 Apr 2013
Forex: GBP/USD trades on consolidation mode around 1.5240
FXstreet.com (San Francisco) - After falling around 130 pips from the 1.5350 area throughout the Asian and European session, the GBP/USD found support at the lowest level since April 5th at 1.5215 in the American session. After that, the GBP/USD has been trading in consolidation mode between 1.5230 and 1.5255.
Even after the Fed's Beige Book, the cable remained inside this range. Currently the pair is at 1.5240, 0.75% below opening price. Par is slightly bearish according to the FXstreet.com trend index with indicators such MACD, CCI and Momentum pointing lower while the Stochastic going bullish in the 1-hour chart.
Below the 1.5230, next supports are at 1.5215 and 1.5200 level. Resistances are at 1.5260, 1.5270 and 1.5315.
Even after the Fed's Beige Book, the cable remained inside this range. Currently the pair is at 1.5240, 0.75% below opening price. Par is slightly bearish according to the FXstreet.com trend index with indicators such MACD, CCI and Momentum pointing lower while the Stochastic going bullish in the 1-hour chart.
Below the 1.5230, next supports are at 1.5215 and 1.5200 level. Resistances are at 1.5260, 1.5270 and 1.5315.