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2 Apr 2013
Forex: GBP/USD threatening 1.5200
FXstreet.com (Barcelona) - The sterling continues to navigate session lows around the key support of 1.5200 on Tuesday, after mixed data from the British economy intensified the selling pressure. In fact, UK manufacturing PMI rose to 48.3 in March, from 47.9 in the previous month while Mortgage Approvals declined to 51.65K during February from January’s 54.18K.
Ahead in the week, the sterling would remain under scrutiny as the BoE MPC will meet on Thursday, although consensus expects the central bank to stay on the sidelines.
GBP/USD is now losing 0.15% at 1.5207 with the next support at 1.5200 (high Feb.28) ahead of 1.5178 (low Apr.1) and finally 1.5165 (MA10d).
On the flip side, a breakout of 1.5242 (high Apr.1) would expose 1.5260 (hourly high Mar.250 and then 1.5280 (high Mar.25).
Ahead in the week, the sterling would remain under scrutiny as the BoE MPC will meet on Thursday, although consensus expects the central bank to stay on the sidelines.
GBP/USD is now losing 0.15% at 1.5207 with the next support at 1.5200 (high Feb.28) ahead of 1.5178 (low Apr.1) and finally 1.5165 (MA10d).
On the flip side, a breakout of 1.5242 (high Apr.1) would expose 1.5260 (hourly high Mar.250 and then 1.5280 (high Mar.25).