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1 Apr 2013
Forex: GBP/USD eases to 1.5190
FXstreet.com (Barcelona) - The sterling is retracing initial gains after climbing to the boundaries of 1.5220, as risk appetite is shrinking ahead of the US manufacturing data.
“Barring ongoing negative data surprises, it appears that downside drivers for sterling may be limited in the short term and entrenched shorts are being lifted. Structural woes in the Eurozone are also helping sterling’s case”, assessed G.Yu y G.Berry, Strategists at UBS.
As of writing, the pair is flat at 1.5192 with the immediate support at 1.5112 (low Mar.28) followed by 1.5092 (low Mar.27) and then 1.5090 (low Mar.21).
On the upside, a surpass of 1.5207 (high Mar.26) would bring 1.5280 (high Mar.25) en route to the psychological level of 1.5300
“Barring ongoing negative data surprises, it appears that downside drivers for sterling may be limited in the short term and entrenched shorts are being lifted. Structural woes in the Eurozone are also helping sterling’s case”, assessed G.Yu y G.Berry, Strategists at UBS.
As of writing, the pair is flat at 1.5192 with the immediate support at 1.5112 (low Mar.28) followed by 1.5092 (low Mar.27) and then 1.5090 (low Mar.21).
On the upside, a surpass of 1.5207 (high Mar.26) would bring 1.5280 (high Mar.25) en route to the psychological level of 1.5300