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GBP/USD: Overbought but over done? - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at Westpac Banking Group noted that GBP/USD advanced for most of this Thursday, surging towards the 1.4980 level.

Key Quotes:

"The British Pound shrug off market's fears of a hung Parliament, and trades again near the 1.5000 region, the critical figure that has contained the upside since mid March. On Friday, the UK will release its monthly employment figures, expected to present a slight improvement compared to the previous month."
"A much better-than-expected result there, may see the pair finally breaking above the mentioned level, particularly as the technical stance favors the upside."

"Short term, the 1 hour chart shows that the technical indicators are heading strongly higher, despite being in overbought territory, whilst the 20 SMA advanced up to 1.4880, providing a strong support in the case of a sudden reversal. In the 4 hours chart the price is accelerating further above its 200 EMA, currently at 1.4910, whilst the technical indicators head strongly up, also in overbought territory."

Watch the commodity bloc inflation data - BNP Paribas

Daniel Katzive, FX Strategist at BNP, reminds us to watch the commodity bloc inflation data next week, following the recent recovery in AUD, NZD and CAD.
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Key overnight events wrapped up - Westpac

Westpac Global Strategy Group gave a snaps shot of events that occurred overnight leading in to the final session for Asia today.
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