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13 May 2013
Forex: GBP/USD tests back the 1.5300
FXstreet.com (San Francisco) - Following the 100 pips decline from the 1.5375 area to find support at the 1.5275 level in the early American session, the GBP/USD was trading sideways between 1.5280 and 1.5295.
At this moment, the cable is 0.40% negative on the day. However, it seems that the GBP/USD is testing back the 1.5300 area as the pair is slightly bullish according to the FXstreet.com trend index. Indicators such as CCI and Momentum are pointing to the north while the Stochastic is bearish and the MACD is neutral in the 15-minutes chart.
On the upside and above the 1.5300 area, a surpass of 1.5407 (MA21d) would open the door to 1.5447 (low May 7) and finally 1.5471 (low May 8). On the downside, next support is at 1.5200 (23.8% of Feb-Apr slide) ahead of 1.5075 (low Feb.25) and then 1.5028 (low Mar.20).
At this moment, the cable is 0.40% negative on the day. However, it seems that the GBP/USD is testing back the 1.5300 area as the pair is slightly bullish according to the FXstreet.com trend index. Indicators such as CCI and Momentum are pointing to the north while the Stochastic is bearish and the MACD is neutral in the 15-minutes chart.
On the upside and above the 1.5300 area, a surpass of 1.5407 (MA21d) would open the door to 1.5447 (low May 7) and finally 1.5471 (low May 8). On the downside, next support is at 1.5200 (23.8% of Feb-Apr slide) ahead of 1.5075 (low Feb.25) and then 1.5028 (low Mar.20).