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GBP/JPY hints at dip buying

The hourly 50-period SMA broke through the slower 200-period SMA, adding credence to the recent bullish GBP/JPY profile.

If GBP/JPY spot falls closer to the level where the moving averages crossed, then buyers might see it as an opportunity to reenter. Furthermore, a convincing break through the 50 SMA signals a neutral tone, shifting negative below the 200 SMA.

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Analysts at Brown Brothers Harriman explained that while many observers are skeptical of China's GDP figures, they seem more willing to accept at face value other data such as inflation, trade, and reserves.
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EUR/USD attempts to recover from below 1.0700

EUR/USD recovered slightly from fresh 6-month lows scored during the New York session after finding support at the 1.0675 area.
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