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Sterling hit on a double whammy - FXStreet

FXStreet (Barcelona) - Valeria Bednarik chief analyst at FXStreet explained that GBP/USD suffered not only of dollar strength, but also with BOE Minutes.

Key Quotes:

“The UK Central Bank left its monetary policy unchanged, but the statement was focused on European slowdown weighting on the economy growth, pushing price down to 1.6011 fresh weekly low”.

“Following bounces ended up shy of the 1.6100 figure, and the pair enters Asia maintaining a bearish tone in the short term, with the 1 hour chart showing indicators heading south below their midlines and price developing below a strongly bearish 20 SMA”.

“In the 4 hours chart the technical picture is also bearish, with a critical support now at 1.5995, 61.8% retracement of the latest bullish run from 1.5874 to 1.6153: break below it should lead to a full 100% retracement over the upcoming sessions”.

EUR/JPY in negative territory below Fib 135.70

EUR/JPY is trading at 135.52 and flat on the session having posted a daily high at 135.64 and low at 135.46.
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