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15 Mar 2013
Forex: The GBP/USD extends decline below the 1.5100 mark
FXstreet.com (San Francisco) - The Sterling has declined further on the back of King's comments on more QE and after falling around 100 pips from 10-day highs at 1.5175, the pair has broken down the 1.5100 mark to tests intra-day lows at the 1.5070 area. Currently the pair is trading at 1.5087.
Almost flat on the day, the pair is trading inside a slightly bearish trend according to the FXstreet.com Forex Studies. CCI and Momentum indicators are bearish while the MACD and Stochastic are neutral in the 1-hour chart.
Mervyn King said that he sees a case for more asset purchases to aid the UK recovery.
Next supports come at 1.5070, 1.5040 and 1.5000. Resistances are at 1.5100, 1.5140 and 1.5175.
Almost flat on the day, the pair is trading inside a slightly bearish trend according to the FXstreet.com Forex Studies. CCI and Momentum indicators are bearish while the MACD and Stochastic are neutral in the 1-hour chart.
Mervyn King said that he sees a case for more asset purchases to aid the UK recovery.
Next supports come at 1.5070, 1.5040 and 1.5000. Resistances are at 1.5100, 1.5140 and 1.5175.