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11 Apr 2013
Forex: GBP/USD in 7-week highs
FXstreet.com (Barcelona) - The sterling is hovering over 1.5365/70 or 7-week highs on Thursday, lifted by increasing buying interest as risk appetite is taking over the markets.
“The amount of easing priced in by the market increased marginally post the April BoE meeting. This may reflect the view that the May meeting is shaping up to be a close call given weak data and the limited success of the FLS”, assessed Melinda Burguess, FX Trading Strategist at RBS.
GBP/USD is now advancing 0.12% at 1.5353 facing the next hurdle at 1.5364 (high apr.5) and then 1.5426 (38.2% of Jan-Mar fall).
On the downside, a breach of at 1.5251 (low Apr.9) would bring 1.5239 (low Apr.8) and finally 1.5235 (MA10d).
“The amount of easing priced in by the market increased marginally post the April BoE meeting. This may reflect the view that the May meeting is shaping up to be a close call given weak data and the limited success of the FLS”, assessed Melinda Burguess, FX Trading Strategist at RBS.
GBP/USD is now advancing 0.12% at 1.5353 facing the next hurdle at 1.5364 (high apr.5) and then 1.5426 (38.2% of Jan-Mar fall).
On the downside, a breach of at 1.5251 (low Apr.9) would bring 1.5239 (low Apr.8) and finally 1.5235 (MA10d).