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Forex: GBP/USD takes a breather above 1.5000

The British pound is taking a breather on Monday and has entered in a consolidation phase after the last bearish attack failed to decisively break below the important 1.5000 level and left the GBP/USD in search for direction.

GBP/USD bottomed out at 1.4998 during the European trade, weighed by UK PMI data, but managed to bounce and turned slightly positive for the day. However, GBP/USD has spent the last hours within a slim range unable to pick up momentum, and it is presently around 1.5050, just 10 pips above its opening price.

In terms of technical levels, immediate supports are seen at 1.5000 followed by 1.4985 (low Mar 1) and 1.4950 (low Jul 12), while on the flip side resistances could be found at 1.5100, 1.5120 (100-hour SMA) and 1.5185 (high Mar 1).

Forex: EUR/USD remains locked around 1.3000

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