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16 May 2013
Forex: GBP/USD supported 1.5200 in European session
FXstreet.com (London) - Cable is oscillating between1.5200/35 above 1.5190 the downside pivot and below 1.5282 to the upside pivot.
The market is patient ahead of plenty of US data with Claims/CPI/Philly and the Fed speaking circuit, with Plosser Rosengren, Fisher Raskin, Williams speaking. While the current tight ranges hold on a close after today, a risk of 1.5300 could be on the cards. Otherwise, a retest lower through 1.5200 and closing opens 1.5050 and possibly the lows 1.4830 indicated in the charts.
The market is patient ahead of plenty of US data with Claims/CPI/Philly and the Fed speaking circuit, with Plosser Rosengren, Fisher Raskin, Williams speaking. While the current tight ranges hold on a close after today, a risk of 1.5300 could be on the cards. Otherwise, a retest lower through 1.5200 and closing opens 1.5050 and possibly the lows 1.4830 indicated in the charts.