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Sideways start to the week

Currencies started the week sideways, which is not entirely surprising with a very light calendar on Monday and Tuesday plus New Zealand and China on holidays.
There was some USD and JPY buying right at the open but the moves were reversed promptly, producing little follow through so far after the solid U.S. jobs report on Friday.
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Cable looks heavy

Yesterday was a relatively volatile Monday for the Cable with the daily range of 120 pips. Today is shaping up to be of a sideways type but we'll see where the current USD buying will stall.
1.5130 - 1.5140 (Weekly Pivot Point, Low Of Day) is the immediate support ahead of 1.5080 - 1.5110 (Previous Day Low, 00's, Daily Support 1). Strong resistance 1.5180 - 1.5210 (Monthly Pivot Point, 00's, Daily Resistance 1) is followed by 1.5230 - 1.5250 (Previous Day High, 50 DMA, Previous Week High, 50's).
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Slow start of the week - all eyes on Wednesday

I have been reading about market anticipation of US data release on coming Wednesday
It appears traders may have too high a hopes for a strong and/or hawkish tone or speech
accompanying the Wednesday data release,
I have read about Usd longs that are already building up towards that release;
while the forex experts and professional traders believe there is no real reason for joy yet:
market and economic recovery is still gradual and the accompanying speeches from Yellen and co.
are expected to b…
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