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17 Apr 2014
EUR/GBP recovers from 6-week low
FXStreet (Córdoba) - The EUR/GBP advanced during the European session and managed to trim part of yesterday losses as the euro strengthened broadly.
Following a consolidative phase, the EUR/GBP gathered pace and rose to a fresh daily high of 0.8243 mainly driven by euro strength, with no clear catalyst for the move. At time of writing, the EUR/GBP is trading at the 0.8235 area, still up 0.16% on the day.
The EUR/GBP fell sharply the previous day and bottomed out at a 6-week low of 0.8214 as the pound gained on the back of better-than-expected employment figures in the UK.
EUR/GBP technical levels
In terms of technical levels, the EUR/GBP could find immediate resistances at 0.8243 (Apr 17 high), 0.8257 (100- and 200-hour SMA crossover) and 0.8267 (Apr 16 high). On the flip side, supports are seen at 0.8214 (Apr 17 low), 0.8203 (Mar 5 low) and 0.8190 (Feb 28 low).
Following a consolidative phase, the EUR/GBP gathered pace and rose to a fresh daily high of 0.8243 mainly driven by euro strength, with no clear catalyst for the move. At time of writing, the EUR/GBP is trading at the 0.8235 area, still up 0.16% on the day.
The EUR/GBP fell sharply the previous day and bottomed out at a 6-week low of 0.8214 as the pound gained on the back of better-than-expected employment figures in the UK.
EUR/GBP technical levels
In terms of technical levels, the EUR/GBP could find immediate resistances at 0.8243 (Apr 17 high), 0.8257 (100- and 200-hour SMA crossover) and 0.8267 (Apr 16 high). On the flip side, supports are seen at 0.8214 (Apr 17 low), 0.8203 (Mar 5 low) and 0.8190 (Feb 28 low).