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Forex: GBP/USD bounces from 1.5492 low

Downside pressure on the GBP/USD sent it to prices below the 1.5500 handle on the London opening, reaching as low as 1.5492. However, support around the psychological level is still working and triggered a bouncing movement back to 1.5510/20 area and is now attempting to retrace all losses.

The UK has nothing to show in the economic calendar today, but the Eurozone is being "attacked" by worse than expected flash GDP Q4 data. The Italian figure came in at -0.9% (QoQ), below -0.6% consensus, widening the annualized recession from -2.4% to -2.7%.

"Possible hesitation at 1.5500 handle would be expected on oversold 1/4h conditions, with corrective rallies seen limited at 1.5630 zone", wrote Windsor Brokers analyst Slobodan Drvenica.

Italy Gross Domestic Product (QoQ) (4Q): -0.9% vs -0.2% (3Q)

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Forex: USD/CHF eases back to 0.9200 level after failure to break resistance

The USD/CHF has edged higher Thursday, however following the publication economic data in Italy the pair has eased off of the 0.9222 (session high) mark in recent moments, unable to break initial resistance. At the time of writing the cross is testing 0.9200 level.
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