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Flash: GBP/USD has rallied - Commerzbank

FXstreet.com (London) - Karen Jones, chief analyst at Commerzbank notes the upside possibilities in GBP/USD.

“while above the 1.5573 2 month up channel, we remain unable to rule out further upside probes and only a close below here will negate current upside pressure and allow for a slide back to the 1.5430/24 recent lows
and then 1.5104 the August low”.

Above 1.5830 would introduce scope to 1.6036, the 78.6% retracement of the move down from December 2012, which is expected to hold and provoke failure.

Flash: EUR/USD’s bounce off the 50% retracement – Commerzbank

Karen Jones, chief analyst at Commerzbank said EUR/USD’s bounce off the 50% retracement of the July-to August rally at 1.3104 has so far taken it to 1.3320 where the 61.8% retracement of the August-to-September decline can be seen.
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US and Russia outline diplomatic framework on Syria

Asian markets reacted positive at the opening, cheering up what is perceived as a headline likely to fuel risk-on trades, following news on a political U.S. / Russia deal for the Syrian crisis.
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