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24 Apr 2013
Forex: GBP/USD flat ahead of UK data
FXstreet.com (Barcelona) - The sterling is trading almost unchanged on Wednesday, hovering over the area of 1.5235/40 ahead of UK data: BBA Mortgage Approvals (31.2K exp.) and the CBI Distributive Survey (7 exp.).
The pound has decoupled from its European peer in the last session, finding well support around the key level at 1.5200 and climbing above 1.5280 despite the context dominated by the risk aversion.
As of writing, the cross is up 0.02% at 1.5243 with the next hurdle at 1.5252 (MA21d) followed by 1.5298 (MA10d) and then 1.5370 (high Apr.17).
On the flip side, a breakdown of 1.5202 (MA50d) would expose 1.5190 (38.2% of 1.4832-1.5412) and finally 1.5122 (50% of 1.4832-1.5412).
The pound has decoupled from its European peer in the last session, finding well support around the key level at 1.5200 and climbing above 1.5280 despite the context dominated by the risk aversion.
As of writing, the cross is up 0.02% at 1.5243 with the next hurdle at 1.5252 (MA21d) followed by 1.5298 (MA10d) and then 1.5370 (high Apr.17).
On the flip side, a breakdown of 1.5202 (MA50d) would expose 1.5190 (38.2% of 1.4832-1.5412) and finally 1.5122 (50% of 1.4832-1.5412).