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1 Mar 2013
Forex: GBP/USD flat around 1.5170
After climbing above 1.5220 on Thursday, the bull run of the sterling faltered and gradually started to decline to the current levels around 1.5170
In the data space, house prices gauged by the Natiowide index rose 0.2% MoM and remained flat over the last twelve months, generally in line with market expectations. Ahead in the day, the manufacturing PMI for the month of February is expected, as well as the M4 Money Supply, Mortgage Approvals, Consumer Credit and the Net Lending to Individuals.
At the moment, GBP/USD is up 0.01% at 1.5166
Next resistance levels align at 1.5214 (high Feb.28) ahead of 1.5219 (high Feb.26) and finally 1.5272 (MA10d).
On the flip side, a breakdown of 1.5100 (psychological level) would increase the decline to 1.5080 (low Feb.27) and 1.5073 (low Feb.25).
In the data space, house prices gauged by the Natiowide index rose 0.2% MoM and remained flat over the last twelve months, generally in line with market expectations. Ahead in the day, the manufacturing PMI for the month of February is expected, as well as the M4 Money Supply, Mortgage Approvals, Consumer Credit and the Net Lending to Individuals.
At the moment, GBP/USD is up 0.01% at 1.5166
Next resistance levels align at 1.5214 (high Feb.28) ahead of 1.5219 (high Feb.26) and finally 1.5272 (MA10d).
On the flip side, a breakdown of 1.5100 (psychological level) would increase the decline to 1.5080 (low Feb.27) and 1.5073 (low Feb.25).