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18 Jul 2013
GBP/USD holding above 1.5200
FXstreet.com (Barcelona) - The GBP/USD foreign exchange rate is last quoted at 1.5208, off early NY session fresh 2-week highs at 1.5267, up +0.66% for the week so far on the back of Pound strength following better than expected UK unemployment.
GBP/USD to hang around till UK data
According to FX Charts analyst Jim Langlands, “it looks as though we may hang around here for the coming session, at least until the UK Retail Sales. On the topside, if the session high (100DMA:1.5260) can be overcome then we may head towards 1.5280 (1.5750/1.4813). A break of this would hint at a run beyond 1.5305 (3 July high) towards 1.5388 (61.8%) but looks unlikely today.”
GBP/USD key technical levels
Immediate support to the downside for GBP/USD lies at past Thursday's Asian session highs 1.5198, followed by Tuesday's highs at 1.5170, and yesterday's lows at 1.5077. To the upside, closest resistance shows at July 11 highs 1.5224, followed by overnight's fresh 2-week highs at 1.5267, and July 03 highs at 1.5303.
GBP/USD to hang around till UK data
According to FX Charts analyst Jim Langlands, “it looks as though we may hang around here for the coming session, at least until the UK Retail Sales. On the topside, if the session high (100DMA:1.5260) can be overcome then we may head towards 1.5280 (1.5750/1.4813). A break of this would hint at a run beyond 1.5305 (3 July high) towards 1.5388 (61.8%) but looks unlikely today.”
GBP/USD key technical levels
Immediate support to the downside for GBP/USD lies at past Thursday's Asian session highs 1.5198, followed by Tuesday's highs at 1.5170, and yesterday's lows at 1.5077. To the upside, closest resistance shows at July 11 highs 1.5224, followed by overnight's fresh 2-week highs at 1.5267, and July 03 highs at 1.5303.