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Forex: GBP/USD, possible transition in the trend? - 2ndSkies

FXstreet.com (Barcelona) - GBP/USD is starting to show signs of more two way order flow, says Chris Capre, founder at 2ndSkies Forex, noting that under the increase in volatility, a possible transition in the trend is more likely, "as buyers are attempting to hold the 1.5200 level with only a false break below it seen" he says.

Chris adds: "First up for the counter-trend bulls would be 1.5272 and 20ema. If this breaks, then 1.5320 and 1.5412 would be up next. If sellers come back in at the first two levels, then a retest on 1.5200 would be in order, so plays on both sides here."

Session Recap: USD rebounds; Nikkei capped below the 15150 mark

Following a weak Asia-Pacific start, the USD has managed to bounce above its initial quote and gains by a small margin against EUR, AUD, GBP, CHF, while still slightly below JPY. The USD/JPY posted a session low at 101.92 while it currently breaks even at 102.22, and EUR/USD printed session highs at 1.2890 and AUD/USD at 0.9914, both now at fresh session lows.
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