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11 Apr 2013
Forex: GBP/USD testing the 1.5300 level
FXstreet.com (Barcelona) - The GBP/USD is testing the 1.5400 level Thursday during the afternoon of European trading. After rupturing multiple resistances, the cross has managed to edge higher +0.45%. The pair is also trading near its session highs of 1.5410.
According to the ICN.com, analyst team, “The recent price action could ultimately stall, as the awaited bearish correctional move looms. However, to support the downside move, the pair should hold below 1.5310 levels.”
After moving above resistance at the 1.5385 level earlier today, the ICN.com analyst team calculates the next corrective measures at 1.5415, onto 1.5455. On the decline, the GBP/USD will meet support at 1.5310, ahead of 1.5280, and finally 1.5250
According to the ICN.com, analyst team, “The recent price action could ultimately stall, as the awaited bearish correctional move looms. However, to support the downside move, the pair should hold below 1.5310 levels.”
After moving above resistance at the 1.5385 level earlier today, the ICN.com analyst team calculates the next corrective measures at 1.5415, onto 1.5455. On the decline, the GBP/USD will meet support at 1.5310, ahead of 1.5280, and finally 1.5250