Published: Mon, 18 May 2009 09:53:00 +0200

Forex: GBP/USD: Sterling picks up and reaches 1.5180

!--TITOL: h1Forex: GBP/USD: Sterling picks up and reaches 1.5180FITITOL--FXstreet.com (Barcelona) - Sterling is gathering momentum on early European session and the GBP/USD, after having bottomed at 1.5115 on early Asian session, has reached levels right below 1.5200 resistance level.br /br /According to a href="http://www.fxstreet.com/technical/forex-strategy/forex-chartist-technical-analysis/2009-05-18.html"Carol Harmer/a, technical analyst at Charmer Charts, the Pound reaches a key level, likely to trigger sellers: "Sterling faltered at 1/5390 and sellers have pushed this lower to 1.5114 overnight. Buyers have been seen, and currently buyers are nudging closer to the 1.5180/85 resistance. Sellers are expected to appear at these higher levels, and push this lower through 1.5110 to 1.5040. Buyers will be waiting here and will be quite aggressive to outperform the sellers."br /br /On the downside, a href="http://www.fxstreet.com/technical/forex-strategy/forex-chartist-technical-analysis/2009-05-18.html"Harmer/a points out to 1.5020 as a key level: "Only below 1.5020 would buyers admit defeat and reverse their longs and go with the sellers for the first longer term fib level of 1.4931"br /br /For more information, read our latest a href="http://www.fxstreet.com/news/forex-news/"forex news/a.div a href="http://feeds.fxstreet.com/~ff/news/forex-news?a=B5lQkLtR0Zs:XPBhgeP2fz0:yIl2AUoC8zA"img src="http://feeds2.feedburner.com/~ff/news/forex-news?d=yIl2AUoC8zA" border="0"/img/a /div

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