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12 Apr 2013
Forex: GBP/USD consolidates above 1.5340
FXstreet.com (Córdoba) - Even though the dollar weakened at the beginning of the NY session, weighed by disappointing US consumer confidence reading, the pound failed to stage a sustained recovery.
GBP/USD bounced from the 1.5340 area, but with the upside being capped by the 20-hour SMA around 1.5380, the pair was confined to a phase of consolidation. At time of writing, GBP/USD is trading around 1.5360/65, still down 0.1% on the day.
"Range will probably dominate the pair over the last trading hours of the week, as it has become usual for the US session", says Valeria Bednarik chief analyst at FXstreet.com. On the downside, the analyst sees immediate supports at 1.5340, 1.5300 and 1.5260, while she places resistances at 1.5410, 1.5445 and 1.5490.
GBP/USD bounced from the 1.5340 area, but with the upside being capped by the 20-hour SMA around 1.5380, the pair was confined to a phase of consolidation. At time of writing, GBP/USD is trading around 1.5360/65, still down 0.1% on the day.
"Range will probably dominate the pair over the last trading hours of the week, as it has become usual for the US session", says Valeria Bednarik chief analyst at FXstreet.com. On the downside, the analyst sees immediate supports at 1.5340, 1.5300 and 1.5260, while she places resistances at 1.5410, 1.5445 and 1.5490.