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Forex Flash: Bunds eye correction as resistance reached – RBS

According to Technical Markets Strategist Dmytro Bondar at RBS, “Bund prices have reached a strong resistance zone formed by the 145.20 Fibonacci retracement and filled-not-closed gap from the start of the year and formed a long-legged Doji star yesterday. The full target from the inverse head and shoulders pattern (144.94- 145.00 region) was met, where we recommended taking profits, as there are good chances of a correction to the 144.00 region. Weekly momentum is turning bullish, as indicated by the slow stochastic oscillator. Overall, favor being flat at the moment and wait for the correction to be over before re- loading longs.”

Forex: GBP/USD in a new lap to the upside

A risk-off feeling briefly took over the market, erasing the GBP/USD gains made during the London opening up to 1.5200. Having returned to the daily open price of 1.5157, the pair is at a new upside mode. However, there is no UK data to trade to. Only German CPI at 13:00 GMT before US GDP, jobless claims and Chicago PMI.
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European markets up on Thursday, Italy pressured as Italy officials comment

The German DAX 30 (+0.66%), the French CAC 40 (+0.32%), the Spanish IBEX 35 (+0.48%) and the British FTSE 100 (+0.06%) are edging higher on Thursday, while the Italian FTSE MIB remains pressured by the policital stalemate taking place in the country.
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