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26 Feb 2013
Forex: GBP/USD consolidates above 1.5110
The recovery of the pound versus the dollar was abruptly halted during the New York session by the 100-hour SMA, that offered resistance to the Cable in more than on opportunity throughout the day.
The inability to regain the 1.5215 resistance area put the GBP/USD back under pressure, sending it to a fresh daily low of 1.5111 during the American afternoon.
At time of writing, the pair is trading around 1.5130, 0.2% below its opening price, with immediate supports at 1.5111 and 1.5100 (psychological level, while resistances are seen at 1.5150 (intraday level) and 1.5200 ahead of 1.5215 (daily high).