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26 Apr 2013
Forex: GBP/USD consolidates above 1.5400
FXstreet.com (Barcelona) - The sterling keeps navigating above the 1.5400 handle on Friday, propped up by yesterday’s positive reading from the UK GDP during the first quarter, and averting a triple-dip recession at the same time.
There are no releases in the UK economy today, although the most relevant event will be the annualized US GDP figures in the first quarter. Prior surveys expect the economic activity to expand 3.0% vs. 0.4% previous.
As of writing, the cross is up 0.12% at 1.5452 with the next resistance at 1.5480 (high Apr.25) followed by 1.5544 (high Feb.14) and finally 1.5550 (high Feb.15).
On the flip side, a breakdown of 1.5309 (MA10d) would expose 1.5284 (MA21d) and then 1.5265 (low Apr.25).
There are no releases in the UK economy today, although the most relevant event will be the annualized US GDP figures in the first quarter. Prior surveys expect the economic activity to expand 3.0% vs. 0.4% previous.
As of writing, the cross is up 0.12% at 1.5452 with the next resistance at 1.5480 (high Apr.25) followed by 1.5544 (high Feb.14) and finally 1.5550 (high Feb.15).
On the flip side, a breakdown of 1.5309 (MA10d) would expose 1.5284 (MA21d) and then 1.5265 (low Apr.25).