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8 Jan 2015
EUR/GBP erases weekly gains
FXStreet (Córdoba) - A weak euro pushed EUR/GBP back below the level it closed last Friday. The pair bottomed on Thursday at 0.7804 and remained below 0.7825.
On Tuesday reached 0.7871, the highest price since mid december, but then reversed and today is falling for the second day in a row.
EUR/GBP short-term outlook
The recovery of the euro from 6-year lows at 0.7755 (Jan 2 low) lost strength above the key short term resistance located at 0.7860 and it was unable to confirm above, showing signs of weakness.
Currently the pair is moving to the downside, approaching 0.7795 - 0.7805 where an important support area is located; a break lower could trigger another slide of the euro.
On Tuesday reached 0.7871, the highest price since mid december, but then reversed and today is falling for the second day in a row.
EUR/GBP short-term outlook
The recovery of the euro from 6-year lows at 0.7755 (Jan 2 low) lost strength above the key short term resistance located at 0.7860 and it was unable to confirm above, showing signs of weakness.
Currently the pair is moving to the downside, approaching 0.7795 - 0.7805 where an important support area is located; a break lower could trigger another slide of the euro.