GBP/USD annihilates ceilings for a 3-week record at 1.6250; retreating

FXstreet.com (Chicago) - GBP/USD liquidated previously aligned resistances on bullish rally and uphill sprint to 1.6250, 3-week highs as the dollar continues fragile on disappointing job market results.

Ahead of the BoE vote, the UK released public sector net borrowing results at 9.368B vs. expected 10.400B. In the US, job market results were worse than expected.

GBP/USD Technical Levels

Price action reveals a strong rally above the 1.6230 zone and reaching 1.6250 peaks. Offered at 1.6230, the pair navigates between the supports aligned at 1.6225 (October 19th highs), 1.6196 (October 18th highs) followed by 1.6168 (October 16th highs) and the resistances set at 1.6247 (October 2nd highs), 1.6277 (December 20th 2012 highs) ahead of 1.63 (December 16th 2012 highs).

EUR/USD heading south?

EUR/USD has found supply in 1.3790 and is beginning look overbought. Data today that was two weeks over due for September paints a bleak picture for the US labour market. This married with the battles in Washington puts the tapering agenda on the back-burner and allows the dollar bears a free ride for the time being at least...
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EUR/JPY consolidates multi-year highs above 135.50

The Euro is currently trading in consolidation mode against the Japanese Yen following the latest bullish movement that took the pair from 134.30 to reach highest since November 2009 at 135.50.
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