15 March 2001, 18:18 GBP/USD sagged to a 15-day low of 1.4418 alongside the EUR/USD.
* GBP/USD sagged to a 15-day low of 1.4418 alongside the EUR/USD. The pair
took no support from data showing U.K. retail sales rose a
stronger-than-forecast 0.6% on the month in February.
Next good support is at 1.4402, 61.8% Fibonacci retracement level of
Nov.-Jan. uptrend.
The outlook is bearish.
Support: 1.4418 (overnight low), 1.4402 (61.8% Fibonacci retracement
level of Nov.-Jan. uptrend), 1.4319 (Feb. 20 low; 2 1/2-month low), 1.4311
(Dec. 5-6 lows), 1.3966 (Nov. 24 trough).
Resistance: 1.4495 (overnight high), 1.4534 (50% Fibonacci retracement
level of the Nov.-Jan. rally), 1.4536 (20-day moving average), 1.4557
(100-day 35/ moving average), 1.4666 (38.2% Fibonacci retracement level of
the Nov.-Jan.
rally),1.4671 (60-day moving average), 1.4756 (March 2 high), 1.4830 (Feb.
5 high), 1.5031 (Jan. 12 high), 1.5043 (50% Fibonacci retracement level of
Oct.1999-Sep. 2000 downtrend), 1.5100 (Jan. 8 high; 5-month high).
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