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Trading news
30 Apr 2013
Forex: GBP/USD back around 1.5500
FXstreet.com (Barcelona) - The sterling regained the region of 1.5490/1.5500 on Tuesday after the Mortgage Approvals increased by 53.5k during March, surpassing both the median and previous prints at 52.5K and 51.9K, respectively. Further UK results showed a 0.9% annual contraction of the M4 Money Supply and a monthly drop to £0.9 billion of Net Lending to Individuals from £1.5 billion. Consumer credit remained at £0.5 billion.
As of writing, the cross is down 0.02% at 1.5496 and a break below 1.5476 (low Apr.29) would open the door to 1.5418 (low Apr.26) and then 1.5334 (MA10d).
On the flip side, resistance levels align at 1.5544 (high Feb.14) would open the door to 1.5547 (high Apr.29) and finally 1.5550 (high Feb.15).
As of writing, the cross is down 0.02% at 1.5496 and a break below 1.5476 (low Apr.29) would open the door to 1.5418 (low Apr.26) and then 1.5334 (MA10d).
On the flip side, resistance levels align at 1.5544 (high Feb.14) would open the door to 1.5547 (high Apr.29) and finally 1.5550 (high Feb.15).