Friday, March 12, 2010

GBP/USD: correction underway



GBP/USD: correction underway

Finally, risk appetite gave up earlier strength and majors and pair is correcting to the downside. Capped above 1.5120 support area, under that level a probable retest of 1.5080/90 seems likely as 4 hours charts show indicators also losing strength. Only above today’s high of 1.5176, pair could regain bullish momentum and approach to key 1.5230 resistance area. 

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