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GBP/USD opens the week higher – slightly working off extreme short-term oversold condition

FXstreet.com (Barcelona) - The GBP/USD appears to be nearing the end of its first wave lower after peaking on 10/22 at 162.56.

GBP/USD traders looking to data from both Britain and the US Monday

Early Monday’s session, GBP/USD traders will be reacting to British Construction PMI for October. Later in the session, there will be Fed Head speeches, the US ISM New York Index and US Factory Order data for traders to digest.

Technical outlook for GBP/USD

Technicians say that GBP/USD has its next support below the recent low of 1.5907 comes in at the Elliott Wave projected range of 1.5870 to 1.5890. Resistance comes in at the Fibonacci retracement levels of 1.5946 and 1.5969.

AUD/NZD fully stopped at 1.1476?

AUD/NZD extends the downward movement after reaching 1.1476 session highs. The pair has advanced 0.36% so far but erases wins partially after the release of the full stack of data in both countries.
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Flash: RBNZ rate hike cycle outlook - BNZ

It is well know by market participants that the RBNZ is very likely to embark upon a tightening cycle starting in 2014, and thought to be extended throughout 2 years. According to Kymberly Martin, Strategist at BNZ, there is equally balanced risks of seeing a first 25bps hike in June next year with a 4.50% peak in 2H 2015.
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