GBP/JPY: Higher low anticipated for a fresh leg higher


EUR/USD Temporary unwinding from oversold conditions. EUR/USD is temporarily unwinding from oversold conditions. However, it is still likely to see the bearish impulsive move extend from key overhead resistance (primarily a 2 year trend and its long-term 200-day average). Bearish sentiment also remains anchored by heightened contagion fears driven from the greater European sovereign debt risk. A sustained close beneath 1.3146 (Oct swing low) will re-establish the larger downtrend from April

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