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May 10, 2013
Forex: GBP/USD extends the correction below 1.5450
FXstreet.com (Barcelona) - The sterling is following its European peer, trading in a soft tone and extending the pessimism from Thursday’s sell-off.
Ahead in the day, the trade balance results in the UK are due, with prior surveys expecting March’s trade deficit to narrow to £9.0 billion from £9.416 billion in the previous month.
As of writing, the cross is losing 0.10% at 1.5432 with the next support at 1.5426 (low May 9) ahead of 1.5418 (low Apr.26) and then 1.5410 (MA21d).
On the flip side, a surpass of 1.5447 (low May 7) would bring 1.5471 (low May 8) and finally 1.5492 (MA10h).
Ahead in the day, the trade balance results in the UK are due, with prior surveys expecting March’s trade deficit to narrow to £9.0 billion from £9.416 billion in the previous month.
As of writing, the cross is losing 0.10% at 1.5432 with the next support at 1.5426 (low May 9) ahead of 1.5418 (low Apr.26) and then 1.5410 (MA21d).
On the flip side, a surpass of 1.5447 (low May 7) would bring 1.5471 (low May 8) and finally 1.5492 (MA10h).