Intra-Day GBP/USD Outlook: March 23, 2012

Published 03/22/2012, 10:45 PM
Updated 01/01/2017, 02:20 AM
GBP/USD
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MAR
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Cable has ratcheted higher after yesterday's sell-off from 1.5893 to 1.5770, suggests that as long as NY support at 1.5784 holds, consolidation with mild upside bias would be seen for gain to 1.5830/35 and possibly towards 1.5847/53 but 1.5893 res would remain intact.

For stop trade, buy on dips with stop as indicated, break would signal fall from 1.5924 has resumed, 1.5770.

Range Forecast
1.5795 / 1.5825

Resistance/Support
R: 1.5832/1.5853/1.5893
S: 1.5784/1.5770/1.5749
    
Last Update At
23 Mar 2012 02:24 GMT

Rate     
1.5818     

Strategy/Entry Level
Buy at 1.5800 for st trade

Objective     
1.5835     

Stop-Loss
1.5780

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