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Forex: GBP/USD continues to edge higher into US session

FXstreet.com (Barcelona) - Having moved within a tight range since yesterday, GBP/USD has edged higher into the US session.

The pair has moved between 1.5270 and 1.5300 for the best part of two days, but has edged higher today to post a high at 1.5328 before declining again. The push higher saw spot find resistance at the hourly 55MA before slunking back down to where it is currently trading at 1.5312. Spot is also finding a touch of near term support at the hourly 5 MA as ECB President speaks at the EU Parliament. Hourly stochastics are at 65 and indicating some upside momentum, while RSI is at 50 and looks content to range at the midpoint.

Commodities Brief – Precious metals begin path to recovery, gold testing 1400

After yesterdays shear annihilation at the hands of commodity traders, the price of gold has found itself paring this morning’s losses and turning positive for the first time in two days. While the path to recovery is far from compensatory after yesterday, the price of gold has found itself trading at USD $1392.10 during US trading Tuesday. Presently, the bounce is still facing bearish headwinds, and a testing of the 1400 resistance is unlikely to break much higher with stability, at least in the near-term.
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Forex: EUR/USD capped by 100-day SMA

The shared currency pushed higher and printed a fresh 7-week high versus the dollar after data showed US housing starts rose more than expected in March. EUR/USD stretched to a high of 1.3147 but found strong resistance at the 100-day SMA and pulled back.
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