[B]The British Pound enjoyed the mild FOMC Statement in the US to break above a minor resistance line and approach a much bigger one. Events ahead will probably stop it. Update.[/B]
[URL="http://www.forexcrunch.com/category/forex-weekly-outlook/gbp-usd-outlook/"][B]GBP/USD[/B][/URL] broke last weeks high of 1.5220 and is now trading above 1.5250. This is the highest level in two and a half weeks, the highest in March so far. 1.5220 is a small technical barrier. A bigger hurdle is ahead:
The big hurdle is 1.5350. This line worked as a resistance and support line in May 2009, and supported the pair in mid February, before it made a big collapse downwards. Around 1.5350 there could be many stop orders that will slow the Pounds movement and possibly send it back down.
Read the rest of the article about [URL="http://www.forexcrunch.com/gbpusd-breaks-up-towards-big-barrier/"][I][B]GBP/USD rise[/B][/I][/URL].
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