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29 May 2013
GBP/USD tests resistance at 1.5125/30
FXstreet.com (Córdoba) - Following a nearly 120-pip rally, the advance of the pound against a broad weaker greenback was halted by the 200-hour SMA at the beginning of the NY session.
GBP/USD printed a high of 1.5125 in recent dealings and it is currently trading barely below that level, where it records a 0.5% daily gain, having been as low as 1.5007 during the Asian session.
In terms of technical levels, if the Cable manages to break above the 1.5125/30 zone, next resistances are seen at 1.5155 (May 27 high) and 1.5175 (May 22 high), while on the other hand, next supports could be faced at 1.5007 (daily low) and 1.4920.
GBP/USD printed a high of 1.5125 in recent dealings and it is currently trading barely below that level, where it records a 0.5% daily gain, having been as low as 1.5007 during the Asian session.
In terms of technical levels, if the Cable manages to break above the 1.5125/30 zone, next resistances are seen at 1.5155 (May 27 high) and 1.5175 (May 22 high), while on the other hand, next supports could be faced at 1.5007 (daily low) and 1.4920.