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Forex: GBP/USD holding around 1.5200

FXstreet.com (Barcelona) - Without making much noise, and totally flat for the last hours in the Asian session, Cable enters into the London session ahead above the key 1.52 round level, off recent session and 3-day highs at 1.5222. The pair is only -0.17% down for the week, ending as the second strongest currency among majors for last 2 trading days, with the UK closed over Eastern holiday today and next Monday. Next Thursday's BoE meeting is now one of biggest risk events in the nearest future.

According to CMT and FXstreet.com Independent Analyst Fan Yang, Cable “price action neutralized the bearish outlook began this week, and threatens to continue the short-term bullish outlook as it challenges the 2013 falling trendline,” the analyst notes, adding: “A break above 1.5260 will be a clear break above the TL and give a near-term bullish outlook first toward the 1.5321 resistance pivot, then the 38.2% retracement level in the 1.5405-1.5422 area,” he concludes.

Fan locates support levels at: 1.5050, 1.5080 and 1.5139, while resistance levels: 1.5228, 1.5258 and 1.5317.

Session Recap: Japan data disappoints; Yen advances a bit

Very quiet session in the Asia-Pacific as expected with mostly all markets closed over Eastern but Japan and mainland China, ahead of London and NY session also closed for holiday. USD/JPY dipped to session lows around the 94.00 handle, while EUR/USD hovered around the 1.2825 level.
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Forex: EUR slips by the Tokyo close

Coinciding with the closing bell in Tokyo, also end of month and fiscal year over there, EUR has taken a 30 pip hit down in both EUR/USD pair and EUR/JPY cross, while GBP/USD has also seen offers down to 1.5178 from above 1.5200 moments before 06:00 GMT, while these two markets, mainland Europe and London, will remain closed over holiday, thus reducing liquidity to the maximum, and enabling price action to such sharp spikes.
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