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27 Mar 2014
EUR/GBP falls to 0.8270 on UK data
FXStreet (Edinburgh) - The GBP is now rapidly picking up pace against the EUR on Thursday, pushing the EUR/GBP to 3-week lows around 0.8270.
EUR/GBP breached 0.8300
The cross quickly left behind the key support at 0.8300 after UK retail sales surprised investors to the upside, with headline sales up 1.7% inter-month in February and 1.8% MoM excluding the Fuel component. Prior surveys were expecting 0.5% and 0.3%, respectively. The cross now accelerates the decline to levels last seen in early March, aggravated at the same time by increasing selling mood around the euro.
EUR/GBP key levels
At the moment the cross is down 0.40% at 0.8276 with the next support at 0.8263 (daily cloud twist Apr.15) ahead of 0.8254 (daily cloud base) and finally 0.8253 (30-d MA). On the upside, a break above 0.8312 (daily cloud top) would open the door to 0.8357 (10-d MA) and then 0.8393 (high Mar.25).
EUR/GBP breached 0.8300
The cross quickly left behind the key support at 0.8300 after UK retail sales surprised investors to the upside, with headline sales up 1.7% inter-month in February and 1.8% MoM excluding the Fuel component. Prior surveys were expecting 0.5% and 0.3%, respectively. The cross now accelerates the decline to levels last seen in early March, aggravated at the same time by increasing selling mood around the euro.
EUR/GBP key levels
At the moment the cross is down 0.40% at 0.8276 with the next support at 0.8263 (daily cloud twist Apr.15) ahead of 0.8254 (daily cloud base) and finally 0.8253 (30-d MA). On the upside, a break above 0.8312 (daily cloud top) would open the door to 0.8357 (10-d MA) and then 0.8393 (high Mar.25).