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GBP Rejects 1.32, USDCAD Eyes Vary-break, EUR looks to ECB - US Market Open

GBP Rejects 1.32, USDCAD Eyes Vary-break, EUR looks to ECB – US Market Open

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MARKET DEVELOPMENT – GBP Rejects 1.32, USDCAD Eyes Vary-break, EUR looks to ECB

GBP: The Pound is the notable underperformer this morning with the forex taking a knock after UK authorities famous that the assembly between Legal professional Normal Cox and EU’s Barnier was unlikely to end in a breakthrough. Consequently, this had exacerbated the pullback from the 1.32 deal with with…

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EUR/USD Bounces Off Key Support to Trade Above 100-Hour MA . . The EUR/USD currency pair on Friday extended rebounds to trade just above the 100-hour moving average line in the 16-min chart. The currency pair also appears to have completed a bullish breakout from a descending channel formation. However, the currency pair is still far from reaching the overbought conditions of the 14-hour RSI. As a result, the current upward movement could continue into next week. EUR/USD Fundamentals Overview From a fundamental perspective, the EUR/USD currency pair is trading at the back of a relatively busy period in both markets.

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