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Alert - 16:10 (CET) - GbpUsd
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The disappointing figures from the personal consumption in the US, the worst since 2001, sent the pessimism back to markets, that are worrying about a deeper than expected recession.
This way, the Sterling has lost some of the ground gained against the Dollar in the last session, hitting the intraday low, at 14:20 (CET) at 1.5231.
The GbpUsd is trading at 1.5346 Dollars per Pound. This session, the pair is ranging from 1.5231 to 1.5485. The current price is under yesterday's close at 1.5472. In the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are over the 200-day EMA.
The supports are set at 1.4748 (June 18th 2002 low), 1.4550 (May 17th, 2002 low) and 1.4332 (April 4th, 2002 low). As the resistances at 1.5000 (key) was broken, the traders are watching the next levels at 1.5483 (November 12th high) and 1.5703 (November 11th high), just in case. However, note that the Sterling has been profit taking from yesterday's high at 1.5440 dollars.
Checking the daily graphics, the current price is over the 23.60% (1.3701) and under the 38.20% (1.5767) Fibonacci retracement lines. The average volatility per hour is 400 pips and the 60-minute Relative Strenght Index (RSI) is at 61 points, rebounding from the overbought area.
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