Trade Idea: GBP/USD - Sell at 1.5265

Mar 5 2010

Despite intra-day retreat to 1.4993 on dollar’s rebound in reaction to the release of better-than-expected U.S. NFP data, active cross-buying in sterling versus Japanese yen on risk appetite should limit downside and bring another corrective rise. Above yesterday’s high of 1.5136 would bring retracement of recent decline, however, 1.5272 (61.8%...