Forex: GBP/USD rises to 1.5412 resistance

on Jun 24, 2013

The MACD convergence has worked in trading so far today. The price has jumped by 68 pips to the resistance level of 1.5412, from which the pair rebounded to be currently trading at 1.5390.

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The price gap of 50 pips from Friday to Monday has almost been covered during the past hour and if the difference is entirely eliminated, the pair may embark on a short northbound journey.
Above 1.5412, upwards movement could well be stopped at the 1.5455 and 1.5515 resistance levels.
To the downside, today’s low at 1.5342 is likely to obstruct further decline.

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GBP Forex