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Forex: GBP/USD rebound capped by 1.5290

FXstreet.com (Barcelona) - After dipping to session lows in the area of the key support at 1.5200, the sterling initiated a recovery that stalled in the boundaries of 1.5290 so far, dragging the cross to the current area of 1.5265/70.

In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, “the focus remains on the channel support, currently at 1.5190. The chart picture remains unaltered - we continue to view 1.5412/20, the recent high and the 38.2% retracement as an interim high”. The expert added that a breach of 1.5190 would be indicative that the market might have resumed its down move.

At the moment, the cross is losing 0.17% at 1.5265.
Next support levels line up at 1.5190 (38.2% of 1.4832-1.5412) ahead of 1.5188 (Mar lows) and then 1.5122 (50% of 1.4832-1.5412).
On the flip side, a break above 1.5301 (MA10d) would bring 1.5370 (high Apr.17) and then 1.5386 (high Apr.15).

Forex: USD/CAD flat around 1.0260

The positive data from the Canadian retail sales during February, rising 0.8% on a monthly basis, sparked a rally that dragged the cross to the boundaries of 1.0250, although bouncing later to levels below 1.0270...
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