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Forex: GBP/USD holding steady around 1.5500

The sterling remains stuck around the key mark at 1.5500 on Thursday, as the increasing risk aversion undermines any attempt of gaining ground against the greenback.

“Rallies are expected to remain contained by 1.5830/79, the November 2012 low, 200 day ma, 38.2% retracement and the February high. While capped here it will remain directly offered”, assessed Karen Jones, Head of FICC Technical Analysis at Commerzbank.

At the moment, the cross is losing 0.27% at 1.5499 with the next support at 1.5458 (low Jul.26) ahead of 1.5414 (low Jul.13) and finally 1.5393 (low Jul.12).
On the flip side, a break above 1.5544 (hourly high Feb.14) would intensify the upside towards 1.5666 (MA10d) ahead of 1.5690 (high Feb.13).

Euro falls as recession deepens

The euro is among the worst performers on Thursday, as the shared currency came under pressure after the eurozone and the bloc's two largest economies, Germany and France, reported GDP shrank by more than expected in the fourth quarter, recalling investors that the crisis is not over.
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Forex: EUR/NOK jumps on Olsen comments

The Norwegian krone is sharply depreciating against the euro after Norges Bank’s Olsen joined the ‘currency wars’ fashion, signalling that the central bank is ready to counteract any undesirable strength of the NOK...
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