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3 May 2013
Forex: GBP/USD reaches 1.5600
FXstreet.com (Córdoba) - The British pound resumed its advance against the greenback, after a short-lived setback sent GBP/USD below 1.5500 in the wake of the US employment report.
GBP/USD bounced strongly from a low of 1.5479 and rose about 120 pips before stalling at 1.5600, supported by the positive market mood. At time of writing, GBP/USD is trading at 1.5590, 0.4% above its opening price.
On the upside, 1.5605 (high May 1) is immediate resistance level to overcome, followed by 1.5690 (high Feb 13). On the downside, supports are seen at 1.5479 (daily low) and 1.5440 (10-day SMA).
GBP/USD bounced strongly from a low of 1.5479 and rose about 120 pips before stalling at 1.5600, supported by the positive market mood. At time of writing, GBP/USD is trading at 1.5590, 0.4% above its opening price.
On the upside, 1.5605 (high May 1) is immediate resistance level to overcome, followed by 1.5690 (high Feb 13). On the downside, supports are seen at 1.5479 (daily low) and 1.5440 (10-day SMA).