Forex: GBP/USD falls below 1.5500 after testing 1.5515

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Published: Tue, 19 May 2009 19:07:00 +0200

Forex: GBP/USD falls below 1.5500 after testing 1.5515

FXstreet.com (Barcelona) - After rising 90 pips in the early American session from 1.5425 to test the 1.5515, 2009 high, the pais has been rejected to 1.5470. Currently the pair is trading around 1.5470/80, 1.00% above today's opening price.

Valeria Bednarik, FXstreet.com collaborator, says in her Advisor blog that GBP/USD is inside of ascendant channel: "Gbp/Usd bullish rally continues, and seems likely a test of the roof of the channel you can see in this 4 hours charts, before any retracement/correction here. Above 1.5513 current high, resistances will come at 1.5545 and 1.5590. Supports are at 1.5440 zone, followed by 1.5395, and the more important 1.5350 zone, that should hold the downside to keep trend intact."


By Fxstreet.com

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