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Forex: GBP/USD closer to 1.5600 after weak US ADP

FXstreet.com (Barcelona) - On the release of US ADP employment data, the GBP/USD is extending its gains and is just a few pips away from the 1.5600 psychological level, quoting at 1.5996 high.

The US ADP employment report came in lower than expected, at 119K in April instead of the 150K expected, also with the March figure being revised lower from 158K to 131K. Next in line is US manufacturing PMI in April. Mortgage applications in the US have risen 1.8% in the week ending at April 26, following a 0.2% improvement in the prior week.

“Near-term studies remain positive and keep the next target at 1.5605, 50% retracement of 1.6380/1.4830 downleg in play. Any violation of 1.5500 support would delay bulls for further correction towards 1.5465, yesterday’s low, while loss of 1.5410 would revive bears”, wrote Windsor Brokers analyst Slobodan Drvenica.

US: ADP Employment Change at 119K in April

The US private sector added 119K jobs during April, missing expectations at 150K and down from March’s 131K (revised from 158K)...
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Forex: USD/JPY falls after weak ADP report

The dollar, which was already under pressure, fell to retest daily lows versus the yen after ADP report showed the US private sector created 119,000 jobs in April, well below expectations of 150,000, while March figure was downwardly revised.
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