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Forex: GBP/USD scratches levels above 1.6250

By FXstreet.com,  September 14, 2012, 11:51:00 AM EDT

FXstreet.com (San Francisco) - The Sterling has trade prices above 1.6250 against the US Dollar at least momentary. The Cable has reached fresh highest level since April 30 at 1.6255. Now the GBP/USD is pricing at 1.6246, 0.55% above opening price action.

The "20 SMA is offering strong support around mentioned 1.6200 area", comments Valeria Bednarik, FXstreet.com analyst. "Only a clear break lower could trigger some short term bearish correction."

"In the 4 hours chart the bullish potential is still present, pointing for a retest of the year high at 1.6300," she adds.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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