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GBP/USD Bulls are losing momentum

GBP/USD sellers stood their ground and buyers retreated in recent sessions as MACD (26, 12, 9) has fallen off below its median line.

On a 4hr chart, this technical condition may be taken by many trend-following traders as a trigger to liquidate long positions.

The fact that the MACD hasn't been under zero for at least one week of trading, reinforces the argument that room for further GBP/USD depreciation is there.

USD/JPY stuck around 1h 100-SMA pre-European open

The USD/JPY rally seen in Asia fizzled near 123.30 region as we head into the early European trades, as the USD bulls take a breather and consolidate gains on 123 handle.
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EUR/JPY wobbles around 130.80

EUR/JPY is trading almost unchanged around the 130.80 level at the beginning of the week, amidst thin trade and lack of volatility in the global markets...
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