Back
21 Feb 2013
Forex: GBP/USD gathering traction above 1.5200
The sterling is consolidating intraday gains above the key support at 1.5200 on Thursday, recovering part of the ground lost in the last weeks and partially retracing the post-FOMC sell-off.
The GBP found extra support after the UK Budget surplus expanded to £11.4 billion during January, the largest level in the last five years.
At the moment, the GBP/USD is losing 0.03% at 1.5228 and a breach of 1.5125 (low Jul.21 2010) would aim for 1.4949 (low Jul.12 2010) and finally 1.4873 (low Jul.1 2010).
On the flip side, resistance levels are located at 1.5240 (high Feb.21) ahead of 1.5268 (Lower Bollinger) and 1.5452 (high Feb.20).
The GBP found extra support after the UK Budget surplus expanded to £11.4 billion during January, the largest level in the last five years.
At the moment, the GBP/USD is losing 0.03% at 1.5228 and a breach of 1.5125 (low Jul.21 2010) would aim for 1.4949 (low Jul.12 2010) and finally 1.4873 (low Jul.1 2010).
On the flip side, resistance levels are located at 1.5240 (high Feb.21) ahead of 1.5268 (Lower Bollinger) and 1.5452 (high Feb.20).