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19 Feb 2013
Forex: GBP/USD back at gains after NY opening
The GBP/USD returned to base, the opening price area around 1.5466, for the NY opening. Now that the US session has started, the market is edging higher again. The pair is currently trading at 1.5475 and is eyeing the highs made at the London morning, where the 1.5500 mark was tested.
The US NAHB housing market index is due to be released at 15:00 GMT, expected to rise from 47 to 48 in February.
“Current rebound above 1.5437 low should be considered corrective in nature, thus preceding next wave downwards, for a test of 1.5390”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to keu resistance at 1.5550.
The US NAHB housing market index is due to be released at 15:00 GMT, expected to rise from 47 to 48 in February.
“Current rebound above 1.5437 low should be considered corrective in nature, thus preceding next wave downwards, for a test of 1.5390”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to keu resistance at 1.5550.