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Forex Analysis
by ForexNewsNow Team on December 27, 2010

GBP/USD forex technical analysis round-up: Dec. 27

NEW YORK (Forex News Now) – The pound was falling slightly against the dollar today, trading at 1.5438 as of around 9:25 A.M., GMT.

The pound is down 0.01% on the day and has reached a session high of 1.5438 with a low of 1.5401 so far.

This is what a couple of the analysts say about the heavily traded currency pair in the near-term:

FXstreet writes that GBP/USD is bearish on dollar strength, with the cross slightly below 1.5440 static resistance area and immediate support around 1.5360 past Thursday’s low.

“Loss of this last should trigger further dollar momentum in the pair, heading towards the 1.5250 static support area. The upside now, seems limited below 1.5500/20 price zone,” it writes in intraday analysis.

Forexcycle writes in GBP/USD analysis that the currency pair remains in downtrend from 1.5910.

“Another fall towards 1.5296 (Sep 7 low) long term key support could be seen, a break below this level will confirm that the long term uptrend from 1.4230 (May 20 low) is complete,” the realtime forex news site adds.

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