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Forex: GBP/USD easing from 1.5140 zone

The GBP/USD is finding hard to rise above the 1.5140 area despite the continuing attempt since early in the London morning and the quick spike to 1.5164. As of writing, the pair moves down, already at 1.5120.

UK data is out. Annualized UK 2012 Q4 GDP growth was revised higher from 0.0% to +0.3% but the quarterly figure came in at -0.3% as forecasted. Total Business Investment contracted -1.2% (QoQ), easing from 5.4% to 0.4% (YoY). Worthy of note is BoE's Bean comment on his sensivity to review UK inflation target.

“An hourly support is at 1.5073. Another support is given by the psychological level at 1.5000”, wrote MIG Bank analyst Bijoy Kar, pointing to hourly resistances at 1.5219 (26/02/2013 high) and 1.5321 (22/02/2013 high).

Forex: EUR/NOK retracing from highs, around 7.4700

The Norwegian krone is gathering pace again on Wednesday, dragging the pair from highs in the boundaries of 7.4800 after the Labour Force in the Scandinavian economy ticked a tad higher to 3.6%...
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Forex: EUR/USD remains capped by 1.3125

The euro trades firmer versus the dollar on Wednesday although it has been largely confined to yesterday's range as market continues to assess the outcome of Italian elections. The fact that Italian yields rose at an auction highlight the political stalemate, even though for euro investors this was offset in part by better-than-expected confidence survey.
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