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Trading range for majors 11/01/2016.

A very strong NFP data 292K which was more than what the market expected had the market pulse moving, bashing pound to the low of 1.4506. As Eur/Usd did manage to recover for the day loss and closing the event at 1.0921.

Further weakness in pound the expected till 1.4300 levels but he key focus would be on Wednesday event where the decision for the change in interest rate could effect the trend.

Following are the key technical level to lookout for:

EUR/USD

S3: 1.0739 S2: 1.0766 S1: 1.0792 R1: 1.0931 R2: 1.0958 R3: 1.0985

 

GBP/USD

S3:  1.4374 S2: 1.4410 S1:  1.4446 R1:  1.4587 R2:  1.4623 R3:  1.4660

 

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