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Forex Flash: EUR/GBP potential upside to 0.8663 – Commerzbank

FXstreet.com (Barcelona) - The pair is posting losses for the third consecutive session so far, as the bullish intraday momentum in the sterling continues to offset the up move in the euro, undermining further upside attempts.

Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggests the cross “remains upside corrective and we look for the near term rebound from the 0.8417 low to test the 55 day ma at 0.8584. There is scope for a move to the top of its cloud at .8663 currently, where we look for the up move to falter”.

Forex Flash: Peripheral European concerns linger – Deutsche Bank

In Greece, the Bank of Greece Governor George Provopoulos said that the country saw deposit inflows of more than €1.5B in March despite fears the Cypriot banking crisis would cause outflows. Provopoulos said the Greek banking sector averted contagion from the Cypriot crisis by getting Greek lender Piraeus to buy Cypriot bank branches operating in Greece before they reopened after the extended bank holiday.
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Forex: USD/JPY bounces at 99.10 to trade above 99.50 again

The USD/JPY bounced at intra-day lows around 99.10 to trade back above the 99.50 region and test the 99.60 area again. Currently the pair is trading at 99.52.
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