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Euro and pound remained stagnant for a whole week, but today there may be strong movements. For example, a decline may be seen in pound, as forecasts say unemployment in the UK will rise from 3.9% to 4.0%. The price could drop slightly below the lower limit of the current range. However, after the opening of the US session, pound will not only rise to the upper limit of the range but also go further upwards. The same awaits euro, as consumer price growth in the US may slow down from 3.4% to 3.1%. This will strengthen expectations of a rate cut by the Fed, which will be enough reason for dollar to weaken. Any change in expectations regarding the actions of the Fed will reinforce this process.
EUR/USD reached the previously passed level of 1.080. Failing to stay above this level may lead to a new attempt to storm the local low, which the pair hit last December.
GBP/USD currently trades around 50 pips above 1.2600. It may stagnate before jumping sharply.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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