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GBP/USD: Scope for a test of 1.3285 – Commerzbank

The upside momentum in Cable could extend to the 1.3285 level, suggested Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.

Key Quotes

GBP/USD saw another recovery yesterday, which has eroded last weeks high and we will assume that there is scope for a deeper recovery to the 1.3285 Fibonacci retracement.”

“The market should remain underpinned by the 1.2874 uptrend and the December low at 1.2908. Failure at the 4 month uptrend would put the 200 day moving average at 1.2689 back on the plate.”

Higher USD/JPY is still on the cards – UOB

USD/JPY is still expected to inch higher in the next weeks, according to FX Strategists at UOB Group. Key Quotes 24-hour view: “As with yesterday’s up
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USD/JPY Price Analysis: Bearish pressure likely to ease near 109.30 region (38.2% Fibo.)

The USD/JPY pair witnessed some follow-through selling for the third consecutive session on Thursday and retreated further from multi-month tops set l
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