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4 Apr 2013
Forex: GBP/USD keeps the intraday range after BoE
FXstreet.com (Barcelona) - The sterling remained around 1.5160/80 on Thursday, after the BoE left unchanged both the lending benchmark and stimulus programme at 0.5% and £375 billion, respectively. Market participants largely anticipated the move by the central bank, leaving no room for surprises.
Recall that the services PMI in the British economy improved to 52.4 during March, bettering expectations at 51.5 and February’s 51.8.
At the moment, the cross is losing 0.31% at 1.5181 with the next support at 1.5026 (low Mar.20) followed by 1.5003 (61.8% of 1.4832-1.5280) and then 1.4965 (low Mar.7).
On the flip side, a breakout of 1.5159 (high Apr.3) would aim for 1.5163 (MA10d) and finally 1.5178 (low Apr.1).
Recall that the services PMI in the British economy improved to 52.4 during March, bettering expectations at 51.5 and February’s 51.8.
At the moment, the cross is losing 0.31% at 1.5181 with the next support at 1.5026 (low Mar.20) followed by 1.5003 (61.8% of 1.4832-1.5280) and then 1.4965 (low Mar.7).
On the flip side, a breakout of 1.5159 (high Apr.3) would aim for 1.5163 (MA10d) and finally 1.5178 (low Apr.1).