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17 May 2013
GBP/USD accelerates losses beyond 1.5200
FXstreet.com (Barcelona) - The selling pressure in the risk-associated assets is intensifying on Friday, driving the pound to the area of 1.5170/75 and challenging previous lows around 1.5160.
The sterling would remain under pressure ahead of next week’s calendar in the UK, as many significant releases are due: consumer prices in April, public sector finances, BoE minutes, Q1 GDP and retail sales during April.
As of writing, the cross is losing 0.63% at 1.5174 with the next support at 1.5162 (low May 17) ahead of 1.5128 (61.85 of 1.4832-1.5607) and then 1.5034 (low Apr.4).
On the flip side, a breakout of 1.5282 (high May 17) would aim for 1.5323 (high May 16) and then 1.5331 (high May 14).
The sterling would remain under pressure ahead of next week’s calendar in the UK, as many significant releases are due: consumer prices in April, public sector finances, BoE minutes, Q1 GDP and retail sales during April.
As of writing, the cross is losing 0.63% at 1.5174 with the next support at 1.5162 (low May 17) ahead of 1.5128 (61.85 of 1.4832-1.5607) and then 1.5034 (low Apr.4).
On the flip side, a breakout of 1.5282 (high May 17) would aim for 1.5323 (high May 16) and then 1.5331 (high May 14).