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5 Apr 2013
Forex: GBP/USD erases gains to trade at 1.5223/25
FXstreet.com (Barcelona) - The GBP/USD has eased nearly 10 pips in recent moments to settle in negative territory at the 1.5223/25 handle. Thus far, the pair has managed not sustain a dip below the 1.5200 level, despite a brief earlier setback (1.5199 session low).
At this juncture the cross is operating at a minor loss of -0.05% Friday. ICN.com analysts identify corrective measures of support 1.5190, then 1.5145, and finally the 1.5100 handle. Conversely, resistances for the GBP/USD will initiate at 1.5250 onto 1.5280 and ultimately 1.5310.
According to the ICN.com Technical Analyst Team, “Momentum indicators offer overbought signals while the linear regression indicators are positive. Therefore, we prefer to remain neutral on the GBP/USD in the European session today waiting for confirmation signals.”
At this juncture the cross is operating at a minor loss of -0.05% Friday. ICN.com analysts identify corrective measures of support 1.5190, then 1.5145, and finally the 1.5100 handle. Conversely, resistances for the GBP/USD will initiate at 1.5250 onto 1.5280 and ultimately 1.5310.
According to the ICN.com Technical Analyst Team, “Momentum indicators offer overbought signals while the linear regression indicators are positive. Therefore, we prefer to remain neutral on the GBP/USD in the European session today waiting for confirmation signals.”