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GBP outperforms as the strong April...........>

FOREX
FOREX: GBP outperforms as the strong April seasonal trend plays out
- JPY crosses triggered fresh appetite in Europe lending support to the majors.
GBP & AUD were the standouts in G10, up 0.57%/0.42% respectively.
- The strong seasonal trend continued in Gbp/Usd, rate moved through the
200-week ma to near 3-month highs of $1.4296. The YTD high at $1.4345 provides
key resistance, also worth noting is that Gbp/Usd last closed above the 200-week
ma in Oct2014. Eur/Gbp eased to Gbp0.8628 with support from the 1.0% envelope
10-dma holding for now.
- Aud/Usd traded above the 100-dma to $0.7804 and will look to challenge the
$0.7815/30 area (200-dma, 2-mth falling resistance line).
- Eur/Usd tracked Eur/Jpy and was largely held to a narrow $1.2317-46 range.
Meanwhile, the cross touched Y132.90 and seen approaching the 100-dma (Y133.07).
- Usd/Jpy moved through Y107.50 triggering further bullish technical signals.
The next target is the upper end of the ascending channel currently intervening
at the 108.00 level. Nzd/Jpy moved through the 200-dma to Y79.61, Cad/Jpy
touched Y85.71 (Y86.21 - 100-dma).

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