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GBP/USD: meeting key downside targets - Commerzbank

FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained that GBP/USD last week met its initial downside target at 1.5171/63 – this consists of the June and current September lows.

Key Quotes:

"Currently the near term risk is that this will hold the initial test – the market does not appear to be ready quite yet to sustain a move below 1.5086, the 61.8% retracement. Failure here will target 1.4895, the 78.6% retracement.

Immediate resistance can be seen between the July low and the 200 day moving average at 1.5330/35. Further resistance comes in around the 1.5424 early August low."

EUR/JPY minor recovery stalling ahead of 200 SMA

EUR/JPY is currently trading at 1234.66 with a high of 135.00 and a low of 133.93.
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Evans: Fed should take “extra-patient approach” to raise rates

Chicago Federal Reserve Bank President, Charles L. Evans said today that he needs more confidence that inflation is heading toward the central bank’s target before calling for the first rate hike since 2006. Evans is currently a voter at the FOMC. t
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