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11 Apr 2013
Forex: GBP/USD capped below 1.5350
FXstreet.com (Barcelona) - Little move in Cable for last 6 hours now trading near session highs at 1.5330 bids, off yesterday's lows at 1.5291. The pair is mostly unchanged for the week so far, slightly in the negative at the moment, capped to the upside at weekly Monday highs 1.5350. With no economic data in the agenda until US jobs at 12:30 GMT and BoE member Tucker to speak at 13:00 GMT, volatility might remain subdued.
According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “The GBP/USD remains unchanged since last updated, ranging around the 1.5300 level, with no intentions to move anywhere according to the hourly chart that shows a 40 pips range around a flat 20 SMA while indicators stand in neutral territory,” the analyst notes, adding: “The lack of follow trough after early week high of 1.5360 discourages buyers, although seems they are not yet ready to give up. In the 4 hours chart readings are also neutral, with the short term range set between 1.5270 static support and 1.5360 weekly high,” she concludes.
Valeria spots support levels at: 1.5270, 1.5240 and 1.5200, while resistance levels at: 1.5330, 1.5350 and 1.5410.
According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “The GBP/USD remains unchanged since last updated, ranging around the 1.5300 level, with no intentions to move anywhere according to the hourly chart that shows a 40 pips range around a flat 20 SMA while indicators stand in neutral territory,” the analyst notes, adding: “The lack of follow trough after early week high of 1.5360 discourages buyers, although seems they are not yet ready to give up. In the 4 hours chart readings are also neutral, with the short term range set between 1.5270 static support and 1.5360 weekly high,” she concludes.
Valeria spots support levels at: 1.5270, 1.5240 and 1.5200, while resistance levels at: 1.5330, 1.5350 and 1.5410.