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GBP/USD still edging towards 1.32
As the European session develops the Dollar has bounced from its lowest levels of the day and that saw the USD/JPY rebound from an earlier low at 139.58, to a high around 140.25 a short while ago. That rebound has served to stall the EUR/USD at 1.1129 after edging slightly above a noted technical resistance level at 1.11.24. What is clear again today; is the USD/JPY continues to mostly dictate the price action on the EUR/USD, but not so much on the GBP/USD. The GBP/USD is still pushing higher and right now closer to the 1.32 handle. That is because the EUR/GBP has been tracking lower this morning and just now it is hitting session lows underneath 0.8430. The GBP/USD just now reached a session high at 1.3198. It is currently trading at 1.3197. As with the EUR/USD there is a minor downward trending resistance level in place today at 1.3215
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