Published: Fri, 15 May 2009 12:40:00 +0200
orex: GBP/USD: Pound dips further, new low at 1.5133
FXstreet. (Barcelona) - Rejection from 1.5245 on early European session has extended to a fresh intra-day low at 1.5133,. The Pound trades, at the moment at 1.5150, 0.44% below its opening level.
According to the Swiss e Trade Strategy Team, the Pound is trading an unusual low volatility: "Still in unusual low volatility, cable is trading at 1.5170 this European morning, caught in a narrow channel between 1.5250 and 1.5130. We expect the lower end of this channel to be tested today, with not much more market activity later."
Support levels remain at the 1.5120/30 area, and below there,the 1.5060/70 area (May 11,12 and 14 low) and 1.4945 (May 7 low). Resistance levels lie at 1.5245 intra-day high and above there, 1.5330 and 1.5370.
By Fxstreet.com
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