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19 Apr 2013
Forex: GBP/USD in highs around 1.5360/65
FXstreet.com (Barcelona) - The pound keeps pushing higher on Friday, climbing to the area of 1.5360/65 and printing fresh intraday highs at the same time.
In the opinion of Derek Halpenny, Analyst at BTMU, next week’s release of the Q1 GDP figures in the UK economy would be key. “With the government and the IMF on a collision course over whether ‘Plan A’ remains appropriate for the UK, confirmation of another technical recession after the 0.3% contraction in Q4 would be very damaging for the government”, concluded Halpenny.
At the moment, GBP/USD is advancing 0.56% at 1.5365 and a surpass of 1.5370 (high Apr.17) would open the door to 1.5386 (high Apr.15) and then 1.5409 (high Apr.12).
On the flip side, a breakdown of 1.5249 (MA21d) would expose 1.5218 (low Apr.18) and finally 1.5217 (low Apr.17).
In the opinion of Derek Halpenny, Analyst at BTMU, next week’s release of the Q1 GDP figures in the UK economy would be key. “With the government and the IMF on a collision course over whether ‘Plan A’ remains appropriate for the UK, confirmation of another technical recession after the 0.3% contraction in Q4 would be very damaging for the government”, concluded Halpenny.
At the moment, GBP/USD is advancing 0.56% at 1.5365 and a surpass of 1.5370 (high Apr.17) would open the door to 1.5386 (high Apr.15) and then 1.5409 (high Apr.12).
On the flip side, a breakdown of 1.5249 (MA21d) would expose 1.5218 (low Apr.18) and finally 1.5217 (low Apr.17).