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8 Mar 2013
Forex: GBP/USD retraces post-BoE spike
The bearishness surrounding the sterling is ruling again on Friday, dragging the cross to levels sub 1.5000 and retracing the whole move up after the BoE left intact its monetary policy on Thursday.
The GBP would remain under pressure as the Consumer Inflation Expectations are due later in the British economy.
As of writing the cross is losing 0.17% en 1.4988 and a drop beyond 1.4965 (2013 low Mar.7) would expose 1.4949 (low Jul.12 2010) and then 1.4873 (low Jul.1 2010).
On the flip side, resistance levels line up at 1.5018 (high Mar.7) followed by 1.5110 (high Mar.6) and finally 1.5111 (MA10d).
The GBP would remain under pressure as the Consumer Inflation Expectations are due later in the British economy.
As of writing the cross is losing 0.17% en 1.4988 and a drop beyond 1.4965 (2013 low Mar.7) would expose 1.4949 (low Jul.12 2010) and then 1.4873 (low Jul.1 2010).
On the flip side, resistance levels line up at 1.5018 (high Mar.7) followed by 1.5110 (high Mar.6) and finally 1.5111 (MA10d).