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May 25, 2012 02:55PM GMT
     
 
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GBP/USD: Pound trading marginally lower after Friday’s rise

By   |  Technical Analysis  |  Oct 17, 2011 11:54AM GMT  |  Add a Comment
 


In the UK, on a monthly basis, the construction output rose 0.4% in August. Additionally, this morning, the Rightmove House Price Index rose 2.8% (M-o-M) in October, following a 0.7% growth in the previous month.

In the Asian session, at GMT0300, the pair is trading at 1.5807, with the GBP trading slightly lower from Friday’s close.

The pair is expected to find support at 1.5744, and a fall through could take it to the next support level of 1.5680. The pair is expected to find its first resistance at 1.5862, and a rise through could take it to the next resistance level of 1.5916.

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