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17 Jul 2013
GBP/USD rises back above 1.5200
FXstreet.com (Córdoba) - Despite a quick and steep setback in the wake of Bernanke's testimony, GBP/USD managed to resume the upside and rose back above the 1.5200 level.
GBP/USD found support at the 20-hour SMA around 1.5150 bounced toward 1.5240 as investors continue to assess Bernanke's words. At time of writing, GBP/USD is trading at the 1.5220 region, where it records a 0.4% gain on the day.
GBP/USD supported by BoE minutes
GBP/USD received a boost during the European session, and reached a 2-week high of 1.5266 after the BoE minutes showed the MPC voted unanimously against more QE.
As for technical levels, immediate resistances for GBP/USD could be found at 1.5266 (daily high) and 1.5300 (psychological level), while supports are seen at 1.5080 (daily low) and 1.5060 (10-day SMA).
GBP/USD found support at the 20-hour SMA around 1.5150 bounced toward 1.5240 as investors continue to assess Bernanke's words. At time of writing, GBP/USD is trading at the 1.5220 region, where it records a 0.4% gain on the day.
GBP/USD supported by BoE minutes
GBP/USD received a boost during the European session, and reached a 2-week high of 1.5266 after the BoE minutes showed the MPC voted unanimously against more QE.
As for technical levels, immediate resistances for GBP/USD could be found at 1.5266 (daily high) and 1.5300 (psychological level), while supports are seen at 1.5080 (daily low) and 1.5060 (10-day SMA).