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Forex: GBP/USD around 1.5545/50, BoE eyed

FXstreet.com (Barcelona) - After Wednesday’s bull run, the sterling quickly left behind the 1.55 barrier and climbed to the boundaries of 1.56, albeit running out of steam afterwards. Today, the pound is following its European counterpart, gyrating around the mid 1.55s ahead of the BoE MPC gathering.

“The recent data have been stronger than expected and this has boosted economists' conviction that the MPC refrain from cutting rates or resuming its gilt purchases”, commented Marc Chandler, Strategist at BBH. Regarding the sterling’s price action, the expert added, ”On balance, we suspect it can rise toward $1.58. A move below $1.54 would undermine this constructive outlook”.

As of writing, the cross is up 0.03% at 1.5540 facing the next resistance at 1.5591 (low Feb.6) ahead of 1.5675 (low Jan.28).
On the downside, a break below 1.5412 (low Apr.11) would bring1.5075 (low Feb.25).

Forex: EUR/USD flatlined around 1.3155/60

The euro is extending its overnight consolidation around the area of 1.3155/60 on Thursday, ahead of the ECB Monthly Report due later...
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Forex Flash: Euro sights hefty resistance 1.3225/43 - Commerzbank

The Euro has been marching on in the face of the bears, but without there being much in the way of fundamentals to take it any further than here for now, Karen Jones, Head of FICC Technical Analysis at Commerzbank comments:
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