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4 Apr 2013
Forex: GBP/USD trading near session highs at the 1.5200 level
FXstreet.com (Barcelona) - The GBP/USD recently peaked at session highs in 1.5203, and is testing the 1.5200 barrier at the time of writing. At this juncture, the cross is operating at a healthy +0.42% gain Thursday during American trading.
Briefing the technicals, the GBP/USD is slated to face calculated resistance at 1.5207, then 1.5255. On the decline, a break below 1.5089 will trigger supportive measures at 1.5041 and 1.5006.
“The GBP/USD moved to the downside and stabled below 1.5080, as stability below it is negative. The downside move might extend during the US session today, especially that Linear Regression Indicators forms a trade ceiling for the pair. Meanwhile, the stochastic is showing negative momentum supporting our expectations.”
Briefing the technicals, the GBP/USD is slated to face calculated resistance at 1.5207, then 1.5255. On the decline, a break below 1.5089 will trigger supportive measures at 1.5041 and 1.5006.
“The GBP/USD moved to the downside and stabled below 1.5080, as stability below it is negative. The downside move might extend during the US session today, especially that Linear Regression Indicators forms a trade ceiling for the pair. Meanwhile, the stochastic is showing negative momentum supporting our expectations.”