Forex: GBP/USD consolidates above 1.5110

The recovery of the pound versus the dollar was abruptly halted during the New York session by the 100-hour SMA, that offered resistance to the Cable in more than on opportunity throughout the day.

The inability to regain the 1.5215 resistance area put the GBP/USD back under pressure, sending it to a fresh daily low of 1.5111 during the American afternoon.

At time of writing, the pair is trading around 1.5130, 0.2% below its opening price, with immediate supports at 1.5111 and 1.5100 (psychological level, while resistances are seen at 1.5150 (intraday level) and 1.5200 ahead of 1.5215 (daily high).

Feb 26, 2013

Forex: GBP/JPY bounces at 137.80, 2-month low

After falling around 240 pips from 140.20, the Sterling has finally found support against the Japanese Yen at 137.80, lowest level since December 26th. The GBP/JPY is in recovery mode and currently is trading above the 139.00 level at 139.10, 0.08% still negative on the day.

Forex Flash: QE3 to end around the turn of the year - Rabobank

Ben Bernanke testified earlier on Tuesday in his semiannual Monetary Policy Report before the Senate Banking Committee and as main remark, market watched how Bernanke put 'hawkish back in cage' after tempering last FOMC minutes somehow bullish.