The hot news of the day has been the bull run of the Sterling. Many of the other USD pairs have retraced a bit after a clear bout of Risk Appetite, and a general overall lack of confidence in the USD. As the other USD pairs have retraced, the GBPUSD been holding near the major psyche level of 1.64 . 1.64 has been finding good resistance after the Cable spiked as high as 1.6431 a few hours ago. It has maintained a steady 50 pip range with, the first area of support is showing at 1.6372, with bottom of the range support at 1.6350 below that. Could be setting up for a nice break out, before the close of the NY session. If a break out forms, look at the other USD pairs for confirmation, primarily the CHF and EUR.
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