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15 Mar 2013
Forex: GBP/USD in weekly highs above 1.5100
The sterling is following its European peer on Friday, advancing beyond the key resistance of 1.5100 ahead of the CB Leading Economic index during February in the UK.
After dipping to multi-year lows in the vicinity of 1.4830 on Tuesday, increasing buying interest has been pushing the pound higher to the current weekly highs above 1.5120
As of writing, GBP/USD is up 0.18% at 1.5112 with the next resistance at 1.5150 (MA21d) ahead of 1.5156 (high Mar.6) and then 1.5200 (high Mar.5).
On the flip side, a breakdown of 1.5014 (MA10d) would expose 1.4915 (low Mar.14) and then 1.4892 (low Mar.13).
After dipping to multi-year lows in the vicinity of 1.4830 on Tuesday, increasing buying interest has been pushing the pound higher to the current weekly highs above 1.5120
As of writing, GBP/USD is up 0.18% at 1.5112 with the next resistance at 1.5150 (MA21d) ahead of 1.5156 (high Mar.6) and then 1.5200 (high Mar.5).
On the flip side, a breakdown of 1.5014 (MA10d) would expose 1.4915 (low Mar.14) and then 1.4892 (low Mar.13).