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Forex: EUR/USD dips to session lows around 1.3520

The shared currency is intensifying its intraday decline on Wednesday, hovering over the proximities of 1.3520/25 as bearish sentiment swells.

Market participants are gradually turning its focus on tomorrow’s ECB meeting, where a dovish tone is expected by President M.Draghi, although the refi rate is set to remain unchanged at 0.75%.

As of writing, the cross is losing 0.42% at 1.3524 with the immediate support at 1.3459 (low Feb5) ahead of 1.3415 (low Jan.29) and finally 1.3377 (MA21d).
On the upside, a breakout of 1.3598 (high Feb.5) would bring 1.3620 (intraday support Feb.4) en route to 1.3660 (high Feb.4).

Forex: GBP/USD rebounds slightly off lows to 1.5642/45

The GBP/USD is trading in negative territory Wednesday after peaking near the 1.5800 region during yesterdays trading session – indeed that level now seems like a distant memory as the pair is entrenched in negative territory at 1.5642/45 dung European trading.
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Forex: EUR/GBP retracing losses after UK housing

As the market approached the release of UK housing prices, the EUR/GBP weakened from 0.8670 area to as low as 0.8638 by the time of the publication. UK Halifax House Prices dropped -0.2% in January, as expected. 3M/YoY data rose from -0.3% to 1.3%, not as high as the 1.5% expected.
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