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22 Apr 2013
Forex: GBP/USD hovering over 1.5220/25
FXstreet.com (Barcelona) - Following its European peer, the sterling is correcting lower on Monday, orbiting around 1.5220/25 after hitting the vicinity of 1.5240/45 overnight.
Key week ahead for the pound as the preliminary figures of the UK GDP during the first quarter will be published on Thursday. The market consensus expects the British economy to expand 0.1% inter-quarter, although the likeliness of the economy sliding back into recession lingers.
GBP/USD is losing 0.08% at 1.5220 with the next support at 1.5218 (low Apr.18) and finally 1.5217 (low Apr.17).
On the flip side, a breakout of 1.5370 (high Apr.17) would open the door to 1.5386 (high Apr.15) and then 1.5409 (high Apr.12).
Key week ahead for the pound as the preliminary figures of the UK GDP during the first quarter will be published on Thursday. The market consensus expects the British economy to expand 0.1% inter-quarter, although the likeliness of the economy sliding back into recession lingers.
GBP/USD is losing 0.08% at 1.5220 with the next support at 1.5218 (low Apr.18) and finally 1.5217 (low Apr.17).
On the flip side, a breakout of 1.5370 (high Apr.17) would open the door to 1.5386 (high Apr.15) and then 1.5409 (high Apr.12).