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Forex: GBP/USD finds support at 1.5630; Back above 1.5650

After falling 170 pips from 1.5800, the Sterling has found support against the Greenback at the 1.5630, 5-month low. The GBP/USD is recovering ground and currently is trading above the 1.5650 level, yet 0.65% negative on the day.

GBP/USD will face next support at 1.5630, then 1.5608 (Lower Bollinger). On the flip side, a surpass of 1.5879 (high Feb.1) would aim for 1.5889 (MA200d). “We would expect this to hold the initial test, but longer term, we in fact favour a break below here to 1.5271/35, the 2012 low”, assessed expert Karen Jones at Commerzbank.

Forex: EUR/JPY rises above 127.00

The euro managed to resume its upward path after yesterday's sell-off, and reached a marginal new high against the yen.
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Wall Street recovers from worst day in 2013 but Dow remains below 14,000

The US stocks market closed Tuesday with gains and in recovery mode following the worst drop in 2013 on Monday. Dell's news on going private fueled the share and the tech sector advances big.
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