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21 Apr 2015
EUR/GBP remains sideways
FXStreet (Córdoba) - The euro is falling modestly on Tuesday against the pound but still holds above the 0.7160 barrier. EUR/GBP peaked during the Asian session at 0.7210 and then dropped, reaching the lowest level at 0.7170.
From the lows the pair is recovering modestly and trade momentarily above 0.7200. Currently trades at 0.7192, less than 15 pips below yesterday’s closing price.
Continues to trade between 0.7230 and 0.7160
Since last Tuesday, EUR/GBP has been moving within a trading range with support around 0.7160/70 and resistance bleow 0.7230. The breakout of the range could open the doors for a more significant move.
On a wider perspective, despite the recovery that took place during the second half of March, the trend continues to favor the pound.
From the lows the pair is recovering modestly and trade momentarily above 0.7200. Currently trades at 0.7192, less than 15 pips below yesterday’s closing price.
Continues to trade between 0.7230 and 0.7160
Since last Tuesday, EUR/GBP has been moving within a trading range with support around 0.7160/70 and resistance bleow 0.7230. The breakout of the range could open the doors for a more significant move.
On a wider perspective, despite the recovery that took place during the second half of March, the trend continues to favor the pound.