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Forex: GBP/USD flat ahead of UK data

FXstreet.com (Barcelona) - The sterling is trading almost unchanged on Wednesday, hovering over the area of 1.5235/40 ahead of UK data: BBA Mortgage Approvals (31.2K exp.) and the CBI Distributive Survey (7 exp.).

The pound has decoupled from its European peer in the last session, finding well support around the key level at 1.5200 and climbing above 1.5280 despite the context dominated by the risk aversion.

As of writing, the cross is up 0.02% at 1.5243 with the next hurdle at 1.5252 (MA21d) followed by 1.5298 (MA10d) and then 1.5370 (high Apr.17).
On the flip side, a breakdown of 1.5202 (MA50d) would expose 1.5190 (38.2% of 1.4832-1.5412) and finally 1.5122 (50% of 1.4832-1.5412).

Asian markets rise after Wall Street earnings

Earnings season in the US, with Apple announcing its report after the NY close, is also affecting Asia and its equity indexes. Mainland China’s Shanghai Composite (+1.13%), Hong Kong’s Hang Seng (+1.49%), Japan’s Nikkei Stock Average (+2.06%) and South Korea’s Kospi (+0.82%) closed higher on Wednesday, and are now passing the torch to Europe. Futures for the German DAX 30 (+0.04%) and the French CAC 40 (+0.19%) are signaling a higher opening. Ahead on the economic calendar is German IFO survey for April, coupled with Spain PPI and Italy Retail Sales.
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Forex: USD/JPY erasing Asian losses

The latest upside attempt was capped at 99.77 high during the Asian session and the pair moved down to 99.19 low after that, but the market remains well supported and money flows ahead of the European session are pulling the USD/JPY back to its highs. As of writing, the price goes at 99.63 as bulls keep on believing on the 100.00 mark. Despite the current rebound, the USD/JPY still has to return to 99.66 to erase its daily losses back to yesterday’s close.
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