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Forex Flash: Gilts buoyed by support – RBS

According to Technical Markets Strategist Dmytro Bondar at RBS, “The price of Gilts has two support pivot points at 116.97 and 116.54, as yesterday’s price action saw Tweezer top, suggesting a pull back for the time being. In the long term, a pennant on a daily chart suggests there would be good chances of extending the rally to 118.37 onto 119.00. There might be a pullback in the near term, but 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. A noteworthy stipulation would be a sustained break below 116.54.”

Forex: EUR/USD gets ready for US ISM non-manufacturing

Although not quite the biggest event on the weekly calendar, the US ISM non-manufacturing index is the last significant piece of data today. So, the EUR/USD is acting accordingly, already at 1.3050 and eyeing a possible return to the daily high of 1.3076.
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Forex: USD/JPY holds downside above 93.00

The USD/JPY has been moving down since early in the Asian session, from 93.50 area to 92.92 low, and although the European morning brought the pair back to 93.00 ground not much movement came after that. The pair remains limited under a tight range, around 93.06/25, but at the moment of writing there is a surge of bids that may attempt at extend above the upper side of the band.
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