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25 Apr 2013
Forex: GBP/USD consolidates above 1.5300
FXstreet.com (Barcelona) - The prevailing risk-on tone overnight lifted the sterling above the key resistance at 1.5300 on Thursday, ahead of the preliminary UK GDP figures for the first quarter. Prior surveys expect the British economic activity to expand 0.1% inter-quarter and 0.1% on a yearly basis vs. 0.2% and -0.3%, respectively.
At the moment, the pair is up 0.30% at 1.5316 with the next resistance at 1.5370 (high Apr.17) and then 1.5386 (high Apr.15).
On the flip side, a breakdown of 1.5227 (hourly low Apr.24) would expose 1.5200 (March low) and then 1.5190 (38.2% of 1.4832-1.5412).
At the moment, the pair is up 0.30% at 1.5316 with the next resistance at 1.5370 (high Apr.17) and then 1.5386 (high Apr.15).
On the flip side, a breakdown of 1.5227 (hourly low Apr.24) would expose 1.5200 (March low) and then 1.5190 (38.2% of 1.4832-1.5412).