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Forex Flash: Gilts break 34-week moving average – RBS

According to Technical Markets Strategist Dmytro Bondar at RBS, “Gilts broke the 34-week moving average, which capped the trend so far, has formed a pennant on a daily chart, suggesting there would be good chances of extending the rally to 118.37 onto 119.00. There might be a pullback to the 117.00/27 region, however it is likely to be a temporary one. After that more upside to 118.40 onto 119.00 would be likely. These are Fibonacci levels on a weekly continuation chart. The primary stipulation would be a sustained break below 116.54.”

Forex: EUR/USD in quick jump on US ISM New York

The US ISM New York index for February triggered an upside reaction in the EUR/USD, jumping 10 pips from the 1.3000 mark. The pair is still counting daily losses while below the week start price of 1.3018.
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Forex: GBP/USD closer to last week's low on US session

The plunging post-UK PMI Construction data found support at the 1.5000 psychological level. From there, the GBP/USD retraced all of its losses and started moving higher ahead of the US session and ISM New York. After reaching as high as 1.5072 on the publication, the pair is currently resting a little lower. Last week's low as 1.5074.
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