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  • Here is my scenario table again for the #FOMC decision. Focus is on the statement and the Press conference https://t.co/SPKmSrDcuy
  • countdown to the #FOMC $USD balancing on support ~92.46 $DXY https://t.co/I8oQybI8Qs https://t.co/OdZhbM6Khr
  • Heads Up:🇺🇸 Fed Interest Rate Decision due at 18:00 GMT (15min) Expected: 0.25% Previous: 0.25% https://www.dailyfx.com/economic-calendar#2021-07-28
  • NY Fed accepts $965.19 billion in reverse repo operations $USD $DXY
  • The US Dollar is holding support around the 92.50 area on the chart after a week-long pullback. Get your market update from @JStanleyFX here:https://t.co/3caFCPAOK3 https://t.co/ZO5FjuTU0m
  • With all eyes on the Fed, the US 10Y Treasury yield moves back above 1.25% #Fed #FOMC https://t.co/ImBHDaHnEf
  • NZD/USD carves a series of lower highs and lows as it pulls back from the weekly high (0.7010), but the Federal Reserve interest rate decision may keep the exchange rate afloat. Get your market update from @DavidJSong here:https://t.co/dNCYqI1Ko3 https://t.co/acxZuM7x9O
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.65%, while traders in France 40 are at opposite extremes with 69.19%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/uzP0OIHpnR
  • Before today's FOMC decision, the Dollar is treading water and the implied forecast for Fed hikes through Dec 2022 (via Fed Funds futures) is 14bps. Correlation between two is still askew https://t.co/6E5nF7NMQe
  • $GBPJPY with a 400 pip + run over the past 8 days. fibo support at 148.65 made its mark https://t.co/FODR1nUzho https://t.co/MargzirThB
GBPUSD Classic Technical Report 09.03.2012

GBPUSD Classic Technical Report 09.03.2012

Ilya Spivak, Head Strategist, APAC

Prices continue to oscillate between support in the 1.5769-84 area, marked by the March 22 low and the 50% Fibonacci retracement, and the 61.8%level at 1.5906. A break higher targets the 1.60 figure and the 76.4% Fib at 1.6057. Alternatively, a push below support exposes the 1.5638-62 region, defined by a horizontal pivot set from mid-February and the 38.2% retracement.

GBPUSD_Classic_Technical_Report_09.03.2012_body_Picture_5.png, GBPUSD Classic Technical Report 09.03.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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