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22 Apr 2013
Forex: GBP/USD hovering over 1.5230
FXstreet.com (Barcelona) - The pound is printing marginal losses on Monday, gyrating around 1.5220/30 in an environment ruled by the risk aversion so far.
According to analysts at BBH, “A negative reading will get some chins wagging about a triple dip, but we find such talk quite vacuous. This is an unhelpful characterization of what is happening and pretends there has been a recovery in between dips. Instead, the UK economy is best understood as bouncing along its trough”.
The pair is now losing 0.02% at 1.5231 with the immediate support at 1.5199 (low Apr.5) ahead of 1.5190 (38.2% of 1.4832-1.5412) and finally 1.5122 (50% of 1.4832-1.5412).
On the flip side, a break above 1.5245 (MA21d) would expose 1.5370 (high Apr.17) and then 1.5386 (high Apr.15).
According to analysts at BBH, “A negative reading will get some chins wagging about a triple dip, but we find such talk quite vacuous. This is an unhelpful characterization of what is happening and pretends there has been a recovery in between dips. Instead, the UK economy is best understood as bouncing along its trough”.
The pair is now losing 0.02% at 1.5231 with the immediate support at 1.5199 (low Apr.5) ahead of 1.5190 (38.2% of 1.4832-1.5412) and finally 1.5122 (50% of 1.4832-1.5412).
On the flip side, a break above 1.5245 (MA21d) would expose 1.5370 (high Apr.17) and then 1.5386 (high Apr.15).