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Forex: GBP/USD eyes 1.5300 on better sentiment

After dipping to multi-year lows in the proximity of 1.5130 on Thursday, the sterling has managed to gather some traction and trade back around the 1.5300 mark, as risk aversion is taken a breather on Friday.

Although the UK docket is empty today, the GBP would look to its European peer as catalyst for price action, as relevant German IFO and EC’s Growth Forecasts are next on tap.

GBP/USD is now up 0.18% at 1.5283 with the next resistance at 1.5452 (high Feb.20) ahead of 1.5505 (MA10d) and then 1.5544 (high Feb.14).
On the downside, a dip below 1.5130 (low Feb.21 would allow 1.5125 (low Jul.21 2010) and finally 1.4949 (low Jul.12 2010).

Germany: GDP falls 0.6% in Q4, as expected

On a quarterly basis German GDP s.a. decreased 0.6% in Q4, compared with 0.2% growth registered the previous quarter, according to data released today by Destatis. This result is in line with market consensus.
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Forex Flash: Asian markets mixed, Europe gets ready for EU growth forecasts

Japan's Nikkei Stock Average (+0.68%), South Korea's Kospi (+0.18%), Indonesia's Jakarta Composite (+0.70%) and India's Bombay Sensitive (+0.10%) moved higher, while Mainland China's Shanghai Composite (-0.51%) and Hong Kong's Hang Seng (-0.45%) closed lower on Friday. China House Price Index rose from 0.0% to 0.8% in January. Weak Eurozone PMI data yesterday and this weekend’s Italian election have been priced in.
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