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15 Mar 2013
Forex: GBP/USD makes new high after US CPI
FXstreet.com (Córdoba) - The Cable extended its advance to fresh daily highs after data showed US consumer prices rose slightly more than expected in February, while the NY manufacturing index slipped in March.
GBP/USD rose to a fresh 10-day high of 1.5175 after the data although the boost was shy. At time of writing, GBP/USD is trading around 1.5165, still recording a 0.6% gain on Friday, after staging a 200-pip rally.
As for technical levels, next resistances are seen at 1.5200 (high Mar 5) followed by 1.5223 (high Feb 28) and 1.5300. On the downside, supports could be found at 1.5070 (intraday low), 1.5015 (10-day SMA) and then 1.5000 (psychological level).
GBP/USD rose to a fresh 10-day high of 1.5175 after the data although the boost was shy. At time of writing, GBP/USD is trading around 1.5165, still recording a 0.6% gain on Friday, after staging a 200-pip rally.
As for technical levels, next resistances are seen at 1.5200 (high Mar 5) followed by 1.5223 (high Feb 28) and 1.5300. On the downside, supports could be found at 1.5070 (intraday low), 1.5015 (10-day SMA) and then 1.5000 (psychological level).