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31 Jul 2015
EUR/GBP finds resistance below 0.7100
FXStreet (Córdoba) - The euro pulled back and trimmed gains versus the pound during the American session but still remains among the top performers. EUR/GBP peaked at 0.7097 when the US tumbled across the board after wage data but then lost strength.
Currently the pair trades at 0.7060, after falling to 0.7050. The rally of the euro found resistance below 0.7100. Earlier, higher-than-expected inflation data from the Eurozone boosted the euro in the market.
EUR/GBP: best day in a week
Despite moving away from the highs, EUR/GBP is still having the best day in a week. The pair has been able to rise back above the level it had a week ago and broke a key short term dynamic resistance, a downtrend line originated on Monday.
Since Monday’s American session it had been falling, from 0.7160, and bottomed yesterday at 0.6985, from where it started to recover.
Currently the pair trades at 0.7060, after falling to 0.7050. The rally of the euro found resistance below 0.7100. Earlier, higher-than-expected inflation data from the Eurozone boosted the euro in the market.
EUR/GBP: best day in a week
Despite moving away from the highs, EUR/GBP is still having the best day in a week. The pair has been able to rise back above the level it had a week ago and broke a key short term dynamic resistance, a downtrend line originated on Monday.
Since Monday’s American session it had been falling, from 0.7160, and bottomed yesterday at 0.6985, from where it started to recover.