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15 Mar 2013
Forex: GBP/USD falters around 1.5155/60
FXstreet.com (Barcelona) - The upside in the sterling is running out of steam in the area of 1.5155/60 on Friday, as the buying interest seems to be taking a breather.
Analysts at Brown Brothers Harriman commented, “The idea that the MPC was not looking to push sterling lower is a bit of hair splitting as the public record clearly shows the MPC had previously complained about sterling strength and has welcomed it weakness… Note that if sterling finishes the North American session today above $1.5120, it would close above its 20-day moving average for the first time since January 2”.
At the moment, the cross is up 0.51% at 1.5162 facing the next resistance at 1.5200 (high Mar.5) followed by 1.5223 (high Feb.28) en route to the psychological level at 1.5300
On the flip side, a breakdown of 1.5069 (hourly low Mar.15) would expose 1.5016 (MA10d) an then 1.4915 (low Mar.14).
Analysts at Brown Brothers Harriman commented, “The idea that the MPC was not looking to push sterling lower is a bit of hair splitting as the public record clearly shows the MPC had previously complained about sterling strength and has welcomed it weakness… Note that if sterling finishes the North American session today above $1.5120, it would close above its 20-day moving average for the first time since January 2”.
At the moment, the cross is up 0.51% at 1.5162 facing the next resistance at 1.5200 (high Mar.5) followed by 1.5223 (high Feb.28) en route to the psychological level at 1.5300
On the flip side, a breakdown of 1.5069 (hourly low Mar.15) would expose 1.5016 (MA10d) an then 1.4915 (low Mar.14).