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Forex: GBP/USD deepens below 1.5500

Cable is down -0.24% for the week so far, last at 1.5480, and about -4.7% lower since year 2013 started. As CMT and FXstreet.com Independent Analyst Fan Yang notes: “There could be some reaction here, but there is still more room until key support in the 1.5250-1.5260 area. A bullish pullback is possible, but a break from a consolidation to the upside can make a stronger case since this upside outlook is against the trend since Dec,” the analyst says.

As for Valeria Bednarik, Chief Analyst at Fxstreet.com: “The hourly chart shows a slightly bearish tone as indicators head south below their midlines and price stands below 20 SMA, with immediate support at 1.5460, past Friday low. 4 hours chart shows 20 SMA gaining bearish slope above current price and acting as dynamic resistance, today around 1.5535, while indicators aim higher in negative territory: price needs then to break below mentioned low to be able to extend its slide with 1.5260/80 area now at sight,” she concludes.

Valeria finds support levels at: 1.5460, 1.5410 and 1.5370, while resistance levels at: 1.5510, 1.5535 and 1.5590.

Toshiro Muto leading candidate for BOJ governor post, Reuters says

According to a Reuters article published earlier this morning by Leika Kihara and Yoshifumi Takemoto, "former top financial bureaucrat Toshiro Muto is the leading candidate to become Japan's next central bank governor with Prime Minister Shinzo Abe to pick a nominee as early as this week, sources close to the process told Reuters."
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Forex Flash: EUR/USD back to 1.20 lows - UBS

According to UBS strategist Syed Mansoor Mohi-uddin: “Our end 2013 forecast of the greenback rebounding to last year's high of 1.20 against the euro remains dependent on the Fed slowing down and ultimately ending its third round of quantitative easing,” the analyst says.
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