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Forex Flash: GBP/USD focus is on 1.5190 support – Commerzbank

FXstreet.com (Barcelona) - Commerzbank analysts see market’s focus still on the channel support, currently at 1.5190, and 1.5412/20 (recent high and the 38.2% retracement) as an interim high. “Loss of the 1.5190 uptrend is needed to add weight to the idea that the market has resumed its down move. Below here will trigger losses to the 1.5028 (the 20th March low). We also find the 61.8% retracement here at 1.5052 and we may see this hold the initial test”, wrote analyst Karen Jones, pointing to another leg lower to the 1.4832 March low in case of another break. “Longer term we target 1.4229, the 2010 low”, she added.

Forex Flash: Weak Chinese flash PMI suggests growth may trend down in Q2 - Nomura

Nomura economist Zhiwei Zhang notes that the HSBC flash manufacturing PMI dropped to 50.5 in April from 51.6 in March (Consensus: 51.5; Nomura: 52.0), despite positive seasonal factors which usually drives April readings of the PMI up.
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Forex: EUR/HUF around 300.00, ahead of MNB

The Hungarian forint is sharply down against the single currency on Tuesday, ahead of the MNB decision due in the European afternoon....
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