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12 Jul 2013
GBP/USD prints first gain in 4 weeks
FXstreet.com (Córdoba) - The GBP/USD is about to close the week around 1.5100, recording its first gain after 3 consecutive weekly losses.
GBP/USD recovers from 3-year low
Despite having printed a 3-year low of 1.4812 and thanks to the Fed mixed signals and the uncertainty over the timing of the its exit strategy, the GBP/USD soared to above 1.5200 amid a broadly weaker USD. However, with the subsequent and inevitable correction, GBP/USD is on track to close the week around 1.5100, 1.5% above its Monday's opening.
"Meeting minutes are tricky, but inflation growth mean new QE is not coming soon - GBP supportive", said Yohay Elam, analyst at Forex Crunch.
In terms of technical levels, GBP/USD could see immediate supports at the 1.5070/60 area (Jul 11 & 12 lows) and 1.5000 (psychological level), while resistances could be found at 1.5190 and 1.5220 (Jul 11 high).
GBP/USD recovers from 3-year low
Despite having printed a 3-year low of 1.4812 and thanks to the Fed mixed signals and the uncertainty over the timing of the its exit strategy, the GBP/USD soared to above 1.5200 amid a broadly weaker USD. However, with the subsequent and inevitable correction, GBP/USD is on track to close the week around 1.5100, 1.5% above its Monday's opening.
"Meeting minutes are tricky, but inflation growth mean new QE is not coming soon - GBP supportive", said Yohay Elam, analyst at Forex Crunch.
In terms of technical levels, GBP/USD could see immediate supports at the 1.5070/60 area (Jul 11 & 12 lows) and 1.5000 (psychological level), while resistances could be found at 1.5190 and 1.5220 (Jul 11 high).