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Forex: GBP/USD surrounds 1.5200, supported at 1.5180

FXstreet.com (Barcelona) - The GBP/USD downside is being limited to the 1.5180 zone, and after being pressured there during the London opening, the pair eventually rose back to 1.5200 ground.

While investors keep their ears next to Cyprus headlines, the ECB has just announced a LTRO re-payment of €1.936B by 22 banks on March 27. The economic calendar is empty, so most volatility might come from the sticky situation in Cyprus.

“The bias here remains bullish, for a break through 1.5197 static resistance, en route to 1.5330 target zone”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to initial support at 1.5130 and key zone on the downside at 1.4980.

Forex: USD/CHF down ahead of Cypriot Parliament vote

The USD/CHF is down to 0.9445 as the European session unfolds as the market tries to extend the downside. Investors are pricing in expectations regarding what is coming from Cyprus as the Parlia-ment prepares to vote on some kind of solution today before the end of ECB help on Monday. “The Cypriot parliament are due to vote today (latest headlines suggest this evening) on measures such as capital controls and the bank bills but as yet there does not appear to be a comprehensive plan B in place”, wrote TD Securitites analysts.
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Forex Flash: Euro undermined by weaker PMIs - BTMU

Lee Hardman, FX Strategist at the Bank of Tokyo Mitsubishi UFJ notes that the euro has also been undermined by the release yesterday of the much weaker than expected euro-zone PMI surveys for March.
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