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Forex Fundamental Analysis: GBP/USD keeps consolidating below 1.5180/90

Forex Fundamental Analysis: GBP/USD keeps consolidating below 1.5180/90

14 January 2015, EUR/USD

Euro

The European currency spent the previous day in the narrow range and closed against the dollar with a decrease. We expect the November Italy industrial production report as well as the December Germany wholesale prices dynamics reports. The wholesale price index can show + 0.2% m/m vs. -0.7% m/m in November. Subjected to the sale, the euro with the dollar made a quite sluggish recovery attempt, limited by the resistance near 1.1880-1.1900 and fell to the support near 1.1740-1.1760. Thus, the pair is in the consolidation phase after falling to the new low, trading in the formed range.

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