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11 Mar 2013
Forex: GBP/USD moves off 32-month low
The pound found support and managed to recover part of its intraday losses against the dollar after falling to a fresh 32-month low sub-1.4900.
GBP/USD bottomed out at 1.4865 during the European session where buyers reemerged, sending the cross to the 1.4890 area, where it is still down 0.2% on the day.
In terms of technical levels, the Mataf.net analyst team holds a short-term negative bias for the cross with immediate supports at 1.4860, 1.4800 and 1.4750, while they place next resistances at 1.4940 and 1.4960.
GBP/USD bottomed out at 1.4865 during the European session where buyers reemerged, sending the cross to the 1.4890 area, where it is still down 0.2% on the day.
In terms of technical levels, the Mataf.net analyst team holds a short-term negative bias for the cross with immediate supports at 1.4860, 1.4800 and 1.4750, while they place next resistances at 1.4940 and 1.4960.