Tech on GBP/USD

Market news

18 May 2012

Tech on GBP/USD

Resistance 3 : $1.5885 (May 16 low)

Resistance 2 : $1.5840 (high of the American session on May 17)

Resistance 1 : $1.5795 (session high)

The current price: $1.5759

Support 1 : $1.5750 (Mar 13 high)

Support 2 : $1.5695 (Mar 16 low)

Support 3 : $1.5635/45 (area of Mar 14-15 low)

European bourses are seen trading lower Friday, pressured in the wake of Moody's downgrade of Spanish banks: the FTSE down 54, the DAX down 46 and the CAC down 20.

Germany: Producer Price Index (YoY), April +2.4% (forecast +2.5%)

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