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Forex: GBP/USD holds up above 1.5500

The downside pressure went no further than 1.5492 low, allowing the GBP/USD to bounce back above the 1.5500 psychological level. Throughout most of the London morning, the pair remained close and testing the handle, but a steady move lower was constantly rejected.

At the moment of writing, the market trades around 1.5512, down by -0.18% on the day and extending weekly losses. Ahead is US jobless claims at 13:30 GMT, followed by Fed Tarullo and Bullard speeches.

"Yesterday's sell-off reached a local low at 1.5492 and the bias here remains bearish, for another leg downwards, to 1.5390 area", wrote Deltastock.com analyst Stoyan Mihaylov, pointing to key intraday resistance on the upside at 1.5570-80 break-out zone.

The Age of easing and the new direction of Central banks

As the world’s developed economies experience tepid growth at nearly half the rate of the pre-crisis years, the specter of persistently high unemployment and long-term ramifications has several governments resorting to a new set of monetary-policy makers bent on saving their respective countries from financial oblivion.
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Forex: EUR/USD stabilizes around 1.3330

The euro decline found some bidding interest in the proximities of 1.3330 on Wednesday, after softer-than-expected GDP releases in the euro area accelerated the downside from levels above 1.3400...
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