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Forex: GBP/USD trimming gains around 1.4920

The sterling is correcting lower from session highs above 1.4980, as better-than-expected US retail sales during February added buying pressure to the greenback, dragging the cross to the area around 1.4930

“Inflation expectations for the UK - as implied by the 10Y spread between tips and nominal yields - highlight a challenge for policymakers as they seek to provide accommodation in an environment of stagnant growth”, pointed E.Theoret, Analyst at Scotiabank.

The cross is now up 0.15% at 1.4921 with the next resistance at 1.5047 (high Mar.8) followed by 1.5063 (MA10d) and then 1.5083 (high Mar.7).
On the flip side, a breakdown of 1.4803 (low Jun.23 2010) aims for 1.4798 (Lower Bollinger) and finally 1.4688 (low Jun.22 2010).

Forex: EUR/USD hits fresh 3-month low beneath 1.2950

The euro extended losses against the greenback in the wake of strong US retail sales data, and despite a recovery attempt, it recently broke below the 1.2955 area (previous range bottom) to hit a fresh 3-month low.
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Forex: EUR/GBP falls to 08665, intra-week low

The Euro is trading under pressure on today's session and against the Pound the pair is trading at levels not seen since March 7th at 0.8670. After falling around 70 pips from the 0.8740 to break down the 0.8675, March 8th low, the pair has reached fresh intra-week lows at 0.8665.
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