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Forex: GBP/USD consolidates below 100-hour SMA

FXstreet.com (Córdoba) - The British pound started the week with a soft tone and lost ground versus the greenback after being rejected from a high of 1.5594 during the UK bank holiday. However, after dropping over 70 pips from highs, GBP/USD found support at the 1.5520 zone during the New York session, as risk appetite improved.

GBP/USD had repeatedly failed to break above 1.5600 last week and instead it was confined to a phase of sideways consolidation.

At time of writing, GBP/USD is trading around 1.5530/40, where it records a 0.2% loss on the day and with immediate supports at 1.5479 (May 3 low) and 1.5463 (10-day SMA). On the other hand, resistances could now be found at 1.5550 (100-hour SMA) and 1.5605 (May 1 high).

Forex: AUD/USD finds support at 1.0220; back toward 1.0250

After falling around 30 pips in the early American session from 1.0255 to trade at intra-day lows at 1.0220, the AUD/USD seems to have found support at this level with the pair trading back to 1.0250. Currently the cross is pricing at 1.0245.
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Forex: EUR/GBP finds support at 0.8400

The renewed weakness in the shared currency after the dovish comments by ECB’s M.Draghi dragged the cross to fresh intraday lows in the proximity of the 0.8400 figure, albeit picking up pace afterwards to the current...
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