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16 Apr 2013
Forex: GBP/USD continues to edge higher into US session
FXstreet.com (Barcelona) - Having moved within a tight range since yesterday, GBP/USD has edged higher into the US session.
The pair has moved between 1.5270 and 1.5300 for the best part of two days, but has edged higher today to post a high at 1.5328 before declining again. The push higher saw spot find resistance at the hourly 55MA before slunking back down to where it is currently trading at 1.5312. Spot is also finding a touch of near term support at the hourly 5 MA as ECB President speaks at the EU Parliament. Hourly stochastics are at 65 and indicating some upside momentum, while RSI is at 50 and looks content to range at the midpoint.
The pair has moved between 1.5270 and 1.5300 for the best part of two days, but has edged higher today to post a high at 1.5328 before declining again. The push higher saw spot find resistance at the hourly 55MA before slunking back down to where it is currently trading at 1.5312. Spot is also finding a touch of near term support at the hourly 5 MA as ECB President speaks at the EU Parliament. Hourly stochastics are at 65 and indicating some upside momentum, while RSI is at 50 and looks content to range at the midpoint.