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11 Apr 2013
Forex: GBP/USD hovering over 1.5400
FXstreet.com (Barcelona) - The sterling keeps the positive momentum towards the end of the trading session on Thursday, gyrating around the key resistance at 1.5400.
“Rising inflation expectations, low growth and loose monetary policy is a dangerous combination, which leaves us GBP negative in the medium term, even as we recognize that like EUR, the near term pressures for GBP are higher”, commented Camilla Sutton, Strategist at Scotiabank.
At the moment, the cross is up 0.39% at 1.5393 with the next resistance at 1.5412 9high Apr.11) followed by 1.5426 (38.2% of Jan – Mar slide) and finally 1.5452 (high Feb.20).
On the downside, a drop beyond 1.5319 (hourly low Apr.11) would expose 1.5294 (low Apr. 10) en route to 1.5255 (MA10d).
“Rising inflation expectations, low growth and loose monetary policy is a dangerous combination, which leaves us GBP negative in the medium term, even as we recognize that like EUR, the near term pressures for GBP are higher”, commented Camilla Sutton, Strategist at Scotiabank.
At the moment, the cross is up 0.39% at 1.5393 with the next resistance at 1.5412 9high Apr.11) followed by 1.5426 (38.2% of Jan – Mar slide) and finally 1.5452 (high Feb.20).
On the downside, a drop beyond 1.5319 (hourly low Apr.11) would expose 1.5294 (low Apr. 10) en route to 1.5255 (MA10d).