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Forex: GBP/USD hovering over 1.5220/25

FXstreet.com (Barcelona) - Following its European peer, the sterling is correcting lower on Monday, orbiting around 1.5220/25 after hitting the vicinity of 1.5240/45 overnight.

Key week ahead for the pound as the preliminary figures of the UK GDP during the first quarter will be published on Thursday. The market consensus expects the British economy to expand 0.1% inter-quarter, although the likeliness of the economy sliding back into recession lingers.

GBP/USD is losing 0.08% at 1.5220 with the next support at 1.5218 (low Apr.18) and finally 1.5217 (low Apr.17).
On the flip side, a breakout of 1.5370 (high Apr.17) would open the door to 1.5386 (high Apr.15) and then 1.5409 (high Apr.12).

Japan’s Nikkei rises after G20 meeting

Japan’s Nikkei Stock Average remains profoundly on demand as the G20 meeting didn’t take away the merits of BoJ easing policy and allowed investors to add +1.80% to the value of the index. South Korea’s Kospi also moved higher, by +0.64%, while Hong Kong’s Hang Seng (-0.08%) and Mainland China’s Shanghai Composite (-0.31%) moved lower on today’s quiet Asian session.
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Forex: USD/JPY finding its way to 100.00 after G20

As the G20 and IMF didn’t disapprove the BoJ monetary policy decisions announced in April, investors felt safe to keep selling the Yen. The USD/JPY reached as high as 99.89 during the Asian session, but the psychological level at 100.00 is a powerful resistance price which still makes the market nervous. The pair is currently at 99.75 (+0.23%) as it finds its way to the upside.
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