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Forex: EUR/GBP rises on London morning

Big day for the EUR/GBP as investors will be dealing with a load of data, but more importantly, with monetary policy decisions from the ECB and the BoE. The cross has been getting stronger since yesterday, with the 0.8600 level proving to be of decent support and the market is currently rising on the London morning.

French imports narrowed from €43.044B to €42.597B in January and exports also eased, from €37.626B to €36.735B, leaving the trade deficit widening from €-5.4B to €-5.9B, instead of narrowing to €-4.8B as expected.

"The bearish engulfing pattern and break of the uptrend suggests further weakness will be seen near term to 0.8566 then .8449/47, the 50% retracement of the move seen this year and the 8th February low", wrote Commerzbank analyst Karen Jones, pointing to intraday resistance at 0.87155, the first of February high.

Forex: USD/CHF falls to 0.9472/74 ahead of Jordan speech

The USD/CHF failed to overtake the 0.9500 level during European trading Thursday, having peaked at 0.9491 before the pair has pulled back into negative territory, on the heels of Swiss data. After falling near 20 pips in recent moments, the cross is now installed at 0.9472/74, down -0.14% off its opening.
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Forex Flash: What to do with EUR/USD? – UBS and Commerzbank

The single currency is hovering over session highs on Thursday, regaining the key resistance of 1.3000 and printing fresh intraday highs above 1.3020, ahead of the ECB monetary policy meeting...
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