The GBP/USD is back around 1.4100

 @ibtimes
on March 05 2009 3:20 AM

FXstreet.com (Barcelona) - After falls around 110 pips from the 1.4150 to the 1.4040 after the BoE's decision, the GBP/USD has found support at 1.4035 and it is rising after the ECB cut and ahead the Trichet's speech. From the 1.4035 to the 1.4118

The GBP/USD has risen more than 80 pips from the to be above the 1.4100 level and the pair is fighting to hold this position, if the pair could be above that, next resistance will be 1.4135 and 1.4150 before to try to break the 1.4200 level.

Valeria Bednarik, FXstreet.com collaborator, expects a bullish movement in the first hours after the rates decision: Remember both last two cuts send the currency higher in the first couple of hours, to finally regain bearish trend after then. Expect volatile moves until Trichet speech is over.

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