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Forex: GBP/USD testing the 1.5300 level

FXstreet.com (Barcelona) - The GBP/USD is testing the 1.5400 level Thursday during the afternoon of European trading. After rupturing multiple resistances, the cross has managed to edge higher +0.45%. The pair is also trading near its session highs of 1.5410.

According to the ICN.com, analyst team, “The recent price action could ultimately stall, as the awaited bearish correctional move looms. However, to support the downside move, the pair should hold below 1.5310 levels.”

After moving above resistance at the 1.5385 level earlier today, the ICN.com analyst team calculates the next corrective measures at 1.5415, onto 1.5455. On the decline, the GBP/USD will meet support at 1.5310, ahead of 1.5280, and finally 1.5250

Forex Flash: QE3 not yet expendable? – Investec

The surprise of an early release of the FOMC minutes yesterday was the most exciting aspect of the news emanating from the Federal Reserve minutes. The early selective release told us pretty much what we expected it to, with the committee continuing to judge that the benefits of the bond-buying scheme outweighed the likely costs and risks. According to the Investec Economic team, “We maintain their view that Fed members still want to see a more evidence of a self sustaining jobs recovery before thinking about pulling the plug on QE3.”
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