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Forex Flash: GBP/USD strong rebound delays negative outlook – Commerzbank

FXstreet.com (Barcelona) - Commerzbank analysts realized there may be unfinished business on the topside after the extremely strong rebound following the GDP figures yesterday. “This has been enough to stop out our shorts and delay our negative outlook”, they said. “It also allows for the possibility of a deeper retracement to the top of the short term up channel at 1.5555 and the 50% retracement mat 1.5600.We would again look for failure here. Loss of the 1.5226 uptrend is needed to add weight to the idea that the market has resumed its down move”, wrote analyst Karen Jones, pointing then to 1.5028 (the 20th March low) below.

Forex Flash: Euro remains stable into week close - BTMU

Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ notes that the euro remains stable around the 1.3000 level versus the dollar as expectations continue to build for an ECB rate cut next week.
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Forex: AUD/USD bounces slightly off lows to 1.0272/74

The AUD/USD has fallen sharply off its overnight highs (1.0339), losing its grip on the 1.0300 level during European trading Friday. Indeed, the recent plunge has bottomed out at the 1.0263 mark (intraday low), before rallying slightly to 1.0272/74 in these moments. The cross is now trading negatively, incurring a loss of -0.17% in what started as a promising day.
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