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22 Apr 2013
Forex: GBP/USD keeps highs around 1.5240/45
FXstreet.com (Barcelona) - The pound managed to gather some traction on Monday, decoupling from its European counterpart and navigating in the upper end of today’s range.
“Our view on the GBP is unchanged: chronic twin deficits and more emphasis on monetary policy activism spell more weakness ahead. Next target is 1.42”, argued David Simmonds, Strategist at RBS.
The cross is now advancing 0.06% at 1.5243 and a surpass of 1.5245 (MA21d) ahead of 1.5370 (high Apr.17) and then 1.5386 (high Apr.15).
On the downside, support levels align at 1.5199 (low Apr.5) ahead of 1.5190 (38.2% of 1.4832-1.5412) and finally 1.5122 (50% of 1.4832-1.5412).
“Our view on the GBP is unchanged: chronic twin deficits and more emphasis on monetary policy activism spell more weakness ahead. Next target is 1.42”, argued David Simmonds, Strategist at RBS.
The cross is now advancing 0.06% at 1.5243 and a surpass of 1.5245 (MA21d) ahead of 1.5370 (high Apr.17) and then 1.5386 (high Apr.15).
On the downside, support levels align at 1.5199 (low Apr.5) ahead of 1.5190 (38.2% of 1.4832-1.5412) and finally 1.5122 (50% of 1.4832-1.5412).