Lower than expected numbers on housing starts and building permits data sends gbp/usd to bounce back a bit from the major support line of 1.2950 level. It is expected to either bounce or stall at these levels till wednesday's FOMC statement and FED interest rate decision. So I am staying away till FED decisions for now. However Yen crosses are to be closely monitored during BOJ monetary policy statement. If GBP/JPY bounces from here 133.05 area would be good price level to enter for shor trade. Currently all GBP pairs are trying to bounce from hourly oversold areas.
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