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Forex: GBP/USD climbs around 1.5200

FXstreet.com (Barcelona) - The sterling navigates in a narrow range on Thursday, with traders focusing on the events emanating from Cyprus as the UK docket is empty on Friday.

“A Bull Flag may be forming in the daily chart, with the 100% swing extensions coming in at 1.5285… I maintain that ‘reselling this area for new lows makes sense, it being major support over the past several years…”, recommended Christopher Vecchio, Currency Analyst at DailyFX.

At the moment, the pair is up 0.18% at 1.5196 with the next hurdle at 1.5210 (high Mar.21) ahead of 1.5223 (high Feb.28) and then 1.5266 (Upper Bollinger).
On the flip side, a breakdown of 1.5090 (low Mar.21) would expose 1.5079 (MA21d) and then 1.5061 (MA10d).
en 1.5210 (máx. mar.21) delante de 1.5223 (máx. feb.28) y después 1.5266 (B Bollinger).
En cambio, de penetrar 1.5090 (mín. mar.21) expondría 1.5079 (MA21d) y por último 1.5061 (MA10d).

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