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13 May 2013
Forex: GBP/USD slips below 1.5300
FXstreet.com (Barcelona) - The sterling breached the key support at 1.5300 on Monday, falling to sub 1.5280 levels as the selling pressure intensifies.
“A new range is in the process of being established; the resistance is strong at 1.5600 and support should manifest between 1.5196 and 1.5270. So look to buy into that zone over the next week or two and expect a return back up to 1.5420 onto 1.5600 potentially”, recommended W.Moore, Strategist at RBS.
GBP/USD is now retreating 0.40% at 1.5292 with the next support at 1.5200 (23.8% of Feb-Apr slide) ahead of 1.5075 (low Feb.25) and then 1.5028 (low Mar.20).
On the upside, a surpass of 1.5407 (MA21d) would open the door to 1.5447 (low May 7) and finally 1.5471 (low May 8).
“A new range is in the process of being established; the resistance is strong at 1.5600 and support should manifest between 1.5196 and 1.5270. So look to buy into that zone over the next week or two and expect a return back up to 1.5420 onto 1.5600 potentially”, recommended W.Moore, Strategist at RBS.
GBP/USD is now retreating 0.40% at 1.5292 with the next support at 1.5200 (23.8% of Feb-Apr slide) ahead of 1.5075 (low Feb.25) and then 1.5028 (low Mar.20).
On the upside, a surpass of 1.5407 (MA21d) would open the door to 1.5447 (low May 7) and finally 1.5471 (low May 8).