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5 Mar 2013
Forex: GBP/USD consolidates above 1.5100
The sterling is posting meager gains on Tuesday, leaving behind the previous comfort zone in the mid 1.50s to follow through 1.5100, ahead of the Halifax House Prices and the final result of the services PMI for February.
The Cable found extra support after the BRC Retail Sales Monitor posted an annualized expansion of 2.7%, exceeding expectations at +0.9% and previous print at +1.9%.
At the moment, the cross is gaining 0.02% at 1.5119 with the next resistance at 1.5180 (MA10d) and then 1.5186 (high Mar.1).
On the downside, support levels line up at 1.5000 (psychological level) followed by to 1.4985 (low Mar.1) and finally 1.4949 (low Jul.12 2010).
The Cable found extra support after the BRC Retail Sales Monitor posted an annualized expansion of 2.7%, exceeding expectations at +0.9% and previous print at +1.9%.
At the moment, the cross is gaining 0.02% at 1.5119 with the next resistance at 1.5180 (MA10d) and then 1.5186 (high Mar.1).
On the downside, support levels line up at 1.5000 (psychological level) followed by to 1.4985 (low Mar.1) and finally 1.4949 (low Jul.12 2010).