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Forex pairs in this Article » GBP/USD (Athens)- The GBP/USD soars since the Asian’s opening trading session, amidst diminishing Syrian’s risk as well as on Yellen “on leading position for the Fed’s top chair.”

Around 9-month peaks, the pair sustains high performance and registers over 200 pips gained this month. “With a job market 'far from satisfactory' and a promise to adjust monetary policy depending on economic conditions, it would not be a surprise if the Fed postpones the reduction of monthly asset purchases until the next meeting in late October,” Ilian Yotov FX strategist and Founder of AllThingsForex suggests. What’s more we could add that with the strong probability that Yellen, the very dovish Vice-Woman of Fed on “leading position” to substitute Bernanke when he steps down, Mr Yotov’s suggestions seem to be very realistic. However, traders should not forget that “ a Fed taper of $10-15bn pr month alongside with more dovish comments” is likely already priced to a more or less extent. Reuters said that Bill Gross from Pimco, “Summers's exit makes Monday a huge day for curve/risk on trades.”

Technical Outlook and Strategic Bias on GBP/USD

According to Karen Jones, Head Technical Analyst of Commerzbank, “Above 1.5830 would introduce scope to 1.6036, the 78.6% retracement of the move down from December 2012, which is expected to hold and provoke failure.”
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