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Forex: GBP/USD breached 1.5300 ahead of UK GDP

FXstreet.com (Barcelona) - The sterling is trading in sub 1.5300 levels on Thursday, ahead of the UK GDP figures for the first quarter due later.

“We may see the GBPUSD make another run at the 1.5400 figure as the economic docket is expected to show the U.K. skirting a triple-dip recession… As the Bank of England (BoE) extends the Funding for Lending Scheme, it seems as though the central bank will keep its asset purchase program capped at GBP 375B, and we may see the Monetary Policy Committee start to discuss a tentative exit strategy later this year as they see a slow but sustainable recovery in Britain”, assessed David Song. Currency Analyst at DailyFX.

At the moment, the cross is up 0.15% at 1.5293 with the next resistance at 1.5370 (high Apr.17) followed by 1.5386 (high Apr.15) and then 1.5409 (high Apr.12).
On the flip side, a breakdown of 1.5227 (hourly low Apr.24) would expose 1.5200 (March low) and then 1.5190 (38.2% of 1.4832-1.5412).

Commodities Brief – Precious metals ease off highs, crude surrenders 92.00 level

Gold prices pushed higher Thursday, helped in part by reserve buying from Turkey, Russia and the International Monetary Fund. Indeed, the yellow metal shot up to the 1447 level earlier today, before easing back towards USD $1443.43 per oz. in these moments. The next upside target lies at 1459/key resistance – however, the RSI enters overbought territory, where at which point the bullish bias may to abate and leading to a resumption of the downside soon.
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Forex Flash: ECB rate cut expectations may overhang EUR/USD - OCBC Bank

Emmanuel Ng of OCBC Bank feels that going forward, the the overhang from expectations of a further rate cut from the ECB may temper excessive EUR upside in the near term although he also notes that several ECB officials have been seeking to downplay the prospect of further aggressive easing.
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