Forex: GBP/USD tests 1.5100 level

FXstreet.com (San Francisco) - After falling around 85 pips from 1.5185 to test the 1.5100 level, the GBP/USD bounced to 1.5140 but the recovery wasn't strong enough and currently the pair is trading back at 1.5100 level where the pair remain testing the price.

With 0.05% daily gains, the GBP/USD is trading inside the slightly bearish trend according to the FXstreet.com Forex Studies. The CCI and Momentum indicators are pointing bearish while the MACD and Stochastic are neutral.

Below the 1.5100 level, next supports come at 1.5026 (low Mar.20), 1.5022 (MA10d) and finally 1.4965 (low Mar.17). Next resistances are at 1.5177 (high Mar.15) ahead of 1.5186 (high Mar.20) and then 1.5200 (high Mar.5).

Mar 20, 2013

Wall Street closes higher after the Fed reaffirms stimulus

The US stocks market closed higher on Wednesday as Cyprus fear eased and the Federal Reserve lowered its unemployment forecast for the upcoming years and affirmed QE as they cut growth expectations.

Session Recap: USD down on risk appetite; Fed reaffirms QE

The USD has traded lower on Wednesday as investors digested Cyprus fears and the Fed improved its unemployment forecast but cut GDP expectations. Market assumed that the Fed will keep stimulus until 2015 at least.