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5 Jun 2013
GBP/USD pushing higher, around 1.5400
FXstreet.com (Barcelona) - The sterling is inching higher on Wednesday, hovering over the key level at 1.5400 as the NA session is drawing to a close.
In the opinion of Camilla Sutton, Strategist at Scotiabank, the technical studies in the short-term remain mixed, “however increasingly bullish, with the MACD having generated a buy signal on Monday and the 9-day MA flirting with a bullish cross of the 21-day. For near-term traders we favour GBP upside, but note that Friday’s nonfarm is a key risk”.
At the moment GBP/USD is gaining 0.60% at 1.5405 with the next resistance at 1.5471 (low May 8). On the downside, a violation of 1.5285 (MA55d) would open the door to 1.5273 (low Jun.4) and finally 1.5234 (MA21d).
In the opinion of Camilla Sutton, Strategist at Scotiabank, the technical studies in the short-term remain mixed, “however increasingly bullish, with the MACD having generated a buy signal on Monday and the 9-day MA flirting with a bullish cross of the 21-day. For near-term traders we favour GBP upside, but note that Friday’s nonfarm is a key risk”.
At the moment GBP/USD is gaining 0.60% at 1.5405 with the next resistance at 1.5471 (low May 8). On the downside, a violation of 1.5285 (MA55d) would open the door to 1.5273 (low Jun.4) and finally 1.5234 (MA21d).