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GBP/USD bulls are losing their breath

The graceful upward trajectory staged by the GBP/USD on the daily chart, finds an offsetting bearish harami, a pattern comparable to an Western inside bar.

Prices challenged the 21-period 2-standard deviation upper band by printing outside of its boundaries in the last two days. The bearish pattern also happens in the context of a 14,3,3-sensitive stochastic tracking above the 80 mark. Although this oscillator assumes that prices tend to close near their high in an upwardly trending market, it should now react with any eventual daily close near the lows.

Traders might seach for this price confirmation as well as an invalidation of the pattern in the form of a new daily high.

EUR/USD vulnerable to decline; fair value 1.01 - Scotiabank

The EUR retains a weak undertone and we rather feel that the bias is liable to remain lower in the next few months as EUR/USD confronts the twin threat of tighter Fed and looser ECB policies, said Shaun Osborne, Chief FX Strategist at Scotiabank. He added that EUR/USD fair value suggest equilibrium is just above 1.01.
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Gold finds support at post-NFP lows, gains muted

Gold prices found support at the post-non-farm payrolls low of USD 1085.50/Oz, but the recovery remains capped around USD 1088-1089/Oz levels.
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