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Forex: GBP/USD extends gains to November low, 1.5829

The British Pound is showing signs of strength as the week ends with the 1.5800 mark back to play and an extension higher with a little help of US money flows. The GBP/USD is rising at the moment, past the previous high made ahead of US trade deficit data, at 1.5820. The market has reached November low of 1.5829 and is looking at 1.5870 (February opening price) and 1.5879 (February high).

"Weekly close above 1.5800 is seen as supportive for possible stronger recovery, as bearish tone sees the current move as corrective part of broader downtrend from 1.6380, 02 Jan peak", wrote Windsor Brokers analyst Slobodan Drvenica.

Forex: USD/JPY off lows after US data

The USD/JPY is seen bouncing from its lows as the US session takes place. Falling since early Asian session and, with a sharp plunge down to 92.17 low on the European morning, pressure on the pair was maintained until US trade deficit data was released.
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Gold trading at $1667.79

Gold prices remain entrenched within the recently traded range, with a near-term tone now being aligned towards the downside. According to Slobodan Drvenica an analyst at Windsor Brokers Ltd., “Yesterday’s price action culminated in a repeated failure at the range top / base of daily kumo at 1684, with the revised range floor at 1666 being cracked, which we see as a sign that the downside is more vulnerable.”
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