Gbp/Usd threatening to break Feb. 26 high

Written March 17, 2010 at 6:00 AM EST by  

On the strength of better than expected jobless claims change the GBP/USD has escalted to a high of 1.5335, exceeding Feb. 26 high of  1.5322.

In the short term iI would expect a slight correction , possibly down to 1.5300 with the pair still in a bullish mode. If the pair can break clean above 1.5322 (close above) from a daily perspective, this would be further confirmation of a bullish outlook for sterling. The next stop for the pair should be 1.5500.

vincent_fx00020

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