Forex: GBP/USD rises to session highs

FXstreet.com (Córdoba) - The pound continues to recover ground versus the dollar, encouraged by better appetite for risk, after bouncing from levels sub-1.5200 hit during the European session.

GBP/USD saw a quick slide to 1.5195 but found buyers and managed to trim losses. Having climbed over 80 pips from lows, the pair recently reached a session high of 1.5280 before losing momentum. At time of writing, GBP/SD is trading around 1.5270, still down 0.1% on the day.

As for technical levels, Valeria Bednarik, chief analyst at FXstreet.com sees immediate resistances at 1.5295 and 1.5330, while she locates next supports at 1.5225, 1.5190 and 1.5150.

Apr 23, 2013

Forex Flash: Weaker EZ data matches up with China and the US - BBH

Brown Brothers Harriman analysts note that we now have weaker euro zone data to go along with softer China and US outlooks.

Forex: EUR/JPY erasing daily losses to 129.54

Brought down on Tuesday by both Yen strength on profit taking from Monday’s high at 130.67 and EUR weakness in reaction to the disappointing flash PMI report in Germany, the EUR/JPY fell to as low at 127.88 on the European session and bouncing movement was formed in anticipation of the NY session, as investors saw improving yields on Italy and Spain debt, European equities rise and the Yen weakens. So far, the cross peaked at 129.60 session high as the market finds resistance at yesterday’s close of 129.54.