Sterling close to retracing 3/8-3/10 selloff

Written March 12, 2010 at 6:06 AM EST by  

Gbp/Usd broke above the 61.8 Fibo (1.5070) earlier in the session and thus far has not looked back. The pair found some resistance at the 1.5165-70 level which isĀ an historical level of hourly highs. This is just in front of March 8th high of 1.5194. A break above this level should bring the pair up to 1.5230-35. If the pair reverses course 1.5115-20 should show some support.

vincent_fx00016

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