Category Archives: Forex News

GBP/USD: Sterling rose sharply in Asian session

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GBP/USD: Sterling rose sharply in Asian sessionFITITOL–>FXstreet.com (Barcelona) – The GBP/USD rose on stronger-than-expected UK consumer-price inflation and Bank of England Governor Mervyn King’s comments that sterling’s recent decline had not been engineered and he saw no reason why the pound should go any lower.

The pair broke out of its downward sloping trading channel and reached the highest level since February 2 as the outlook for global banks has improved and risk appetite has increased. The RSI at 65 indicates the pair is getting overbought; however, a test of the 1.50 resistance is possible.

The GBP/USD could be more overbought if this is a bottom. There is support in the 1.45-area. “The GBP/JPY broke resistance today after forming a long-term bottom, indicating further gains,” said Hans Nilsson, analyst at CMS Forex.

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EUR/USD declined in Asian session

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EUR/USD declined in Asian sessionFITITOL–>FXstreet.com (Barcelona) – The Euro (EUR) couldn’t get back above 1.3700 and fell heavily as the recent rally ran out of steam. Support at 1.3500 failed to hold and the pair slipped to 1.3430.

PMI surveys in March showed slight improvement with services ticking higher to 40.1 vs. 39 and manufacturing 34 vs. 33.4 previously. January Current Account Deficit widened to -12.7B vs. -7.6B previously.

Easy Forex Team said: “Overall the EUR/USD traded with a low of 1.3433 and a high of 1.3677 before closing the day at 1.3480.”

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EUR/USD declined in Asian session

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EUR/USD declined in Asian sessionFITITOL–>FXstreet.com (Barcelona) – The Euro (EUR) couldn’t get back above 1.3700 and fell heavily as the recent rally ran out of steam. Support at 1.3500 failed to hold and the pair slipped to 1.3430.

PMI surveys in March showed slight improvement with services ticking higher to 40.1 vs. 39 and manufacturing 34 vs. 33.4 previously. January Current Account Deficit widened to -12.7B vs. -7.6B previously.

Easy Forex Team said: “Overall the EUR/USD traded with a low of 1.3433 and a high of 1.3677 before closing the day at 1.3480.”

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Sterling pushes higher; GBP/USD above 1.4660

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Sterling pushes higher; GBP/USD above 1.4660FITITOL–>FXstreet.com (Barcelona) – The Sterling (GBP) broke above the key 1.4660 level and remained very well supported on comments by BOE King and solid economic data.” Inflation surprised to the topside with Core CPI (Feb) rising 0.9% vs. -0.7% previously,” said Easy Forex Team.

Retail Sales (Feb) rose to 0.6% vs. -0.2% forecast. BOE King said there is no reason for the Pound to weaken and that it contributed to a high CPI reading. Overall the GBP/USD traded with a low of 1.4560 and a high of 1.4777 before closing the day at 1.4700 in the New York session

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Sterling pushes higher; GBP/USD above 1.4660

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Sterling pushes higher; GBP/USD above 1.4660FITITOL–>FXstreet.com (Barcelona) – The Sterling (GBP) broke above the key 1.4660 level and remained very well supported on comments by BOE King and solid economic data.” Inflation surprised to the topside with Core CPI (Feb) rising 0.9% vs. -0.7% previously,” said Easy Forex Team.

Retail Sales (Feb) rose to 0.6% vs. -0.2% forecast. BOE King said there is no reason for the Pound to weaken and that it contributed to a high CPI reading. Overall the GBP/USD traded with a low of 1.4560 and a high of 1.4777 before closing the day at 1.4700 in the New York session

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