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Forex: GBP/USD bounces from lows

FXstreet.com (Barcelona) - Renewed buying interest is lifting the sterling from session lows in the vicinity of 1.5520 to the current area of 1.5530/35 on Tuesday.

In light of the BRC Retail Sales Monitor due tonight, Strategist Kit Juckes at Societe Generale commented, “The BRC measure may come in way below the CPI series, but the trends are similar enough that we might get better CPI news in the months ahead. Receiving 10yr/10yr GBP vs. US still appeals to me, and with the MPC likely to do absolute nothing this week, I don't see much wrong with short EUR/GBP trades, either”.

GBP/USD is now down 0.06% at 1.5532 with the next support at 1.5521 (low May 6) followed by 1.5505 (hourly low May 3) and finally 1.5494 (MA10d).
On the upside, a break above 1.5599 (high May 6) would expose 1.5603 (high May 3) and then 1.5607 (high May 1).

Dijsselbloem calls for deeper integration of EU financial sector

European Commission president José Manuel Barroso, EU Commissioner for Economic and Monetary Affairs Olli Rehn and Eurogroup chief Jeroen Dijsselbloem spoke at the “Blueprint for a deep and genuine EMU” conference in Brussels on Tuesday on the future of the European Monetary Union.
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Forex: GBP/JPY targets 154.75

An upside flag has formed breaking through previous resistance 154.14.
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