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Alert - 10:00 (CET) - Sterling climbs 1.30% against the Dollar
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The GbpUsd is trading at 1.4316 Dollars per Pound. This session, the pair is ranging from 1.4126 to 1.4330, over yesterday's close at 1.4129. In the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA, but the price is over the latter.
The supports are set at 1.3770 (March 31st, 1985 low), 1.3500 (key) and 1.3040 (September 30th, 1985 low). The resistances are watched at 1.4000 (key), 1.4443 (January 20th low) and 1.4909 (January 19th low).
After the situation of the Barclays Plc. bank was explained, which brought relief to the credit sector, and the recent results, better than estimated, of the German business climate, we're observing an appetite for high yielders. With the investors letting go of the Dollar safe haven, the Sterling is accumulating 1.31% against it.
Observing the daily charts, we see that the current price is over the 23.60% (1.3701) and under the 38.20% (1.5767) Fibonaci retracement line. The average volatility per hour is 300 pips and the 60-minute Relative Strenght Index (RSI) is at 68 points, near the overbought area.
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