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Forex Flash: GBP/USD looks technically bearish - Nomura

FXstreet.com (Barcelona) - Nomura strategist Saeed Amen has taken a look at GBP/USD from a purely technical perspective.

Looking at a daily chart he notes that while spot is up on the week, he is flipping to a bearish outlook. He notes that RSI is reaching high levels in comparison with recent weeks, which suggests that it is close to a short term high. Further, he sees that badwidth is very low, indicating that spot is likely to range. Henceforth, he writes, “There could be some retracement back lower, as opposed to a breakout (higher). Our target is 1.5070 (20D SMA).”

Forex Flash: A deal can still be made on Cyprus - Societe Generale

Sebastien Galy, Senior FX Strategist at Societe Generale believes that a deal can still be made on Cyprus, and that may lead to a relief risk rally.
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Forex: USD/JPY breaks lower to 94.79/81

The USD/JPY has fallen off the 95.00 barrier in recent minutes, with investors optimistic of a speedy and painless resolution in Cyprus, perhaps available in a matter of hours. Having trended lower now at -0.25% off its opening, the exchange has settled at 94.79/81 at the time of writing.
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