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22 May 2013
GBP/USD struggles around 1.5100
FXstreet.com (Córdoba) - The British pound took another hit on Wednesday and extended losses against the dollar to a fresh 7-week low after a 1.3% monthly decline for April retail sales was reported versus a 0.1% gain expected, while the May BoE minutes held no surprises.
GBP/USD pierced below the 1.5100 mark and bottomed out at 1.5073, although with the subsequent bounce capped by the 1.5110 area, the pair was confined to a phase of consolidation.
At time of writing, GBP/USD is trading at the 1.5095 area, where it posts a 0.3% loss on the day, following yesterday's 0.7% decline. Immediate supports for the pair could be found at 1.5073 (daily low) and 1.5032 (low Apr 4), while resistances are seen at 1.5110 and 1.5170 (daily high).
GBP/USD pierced below the 1.5100 mark and bottomed out at 1.5073, although with the subsequent bounce capped by the 1.5110 area, the pair was confined to a phase of consolidation.
At time of writing, GBP/USD is trading at the 1.5095 area, where it posts a 0.3% loss on the day, following yesterday's 0.7% decline. Immediate supports for the pair could be found at 1.5073 (daily low) and 1.5032 (low Apr 4), while resistances are seen at 1.5110 and 1.5170 (daily high).