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Forex: GBP/USD posts second consecutive weekly loss

Despite several recovery attempts, the GBP/USD has remained capped below the 1.5320 area on Friday and was confined to a phase of consolidation ahead of the weekend. GBP/USD is on track to close the day unchanged around 1.5250, but with a weekly loss of 1.7%, the second in a row.

The pound came under pressure this week amid downgrade rumors and after the BoE minutes showed more members than expected voted in favor of increasing the QE amount to boost the struggling economy.

Next week, the second Q4 GDP estimate will be released and is likely to remain unchanged from the initial estimate of -0.3% q/q (0.0% y/y).

Forex:USD/CAD extends the correction lower

The Canadian dollar continues to recover ground lost to its neighbor on Friday, advancing from session lows at the doorsteps of 1.0260 to the current region of 1.0230...
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Session Recap: USD consolidates gains ahead weekly close

Following the 7-month uptrend line support break at 1.3245, the EUR/USD fell to 1.3145, lowest since January 10th where the pair has used as current bottom. After that, the pair afford new bearish pressures on European LTRO results and it has been trading in consolidation phase around 1.3180. However, the pair is trading 0.1% lower on the day.
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