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6 Feb 2015
EUR/GBP falls to test 0.7450
FXStreet (Córdoba) - EUR/GBP broke below 0.7465 and dropped to 0.7450, reaching a fresh daily low. The pair currently trades at 0.7460, down 0.33% for the day.
On Wednesday the pair fell sharply from 0.7590 and found support around the 0.7450 area, that is being tested today. Yesterday the euro recovered ground against the pound, but it failed to hold above 0.7500 and today is moving with a bearish bias.
The EUR/GBP erased all weekly gains after the reversal. Now is headed toward the lowest weekly close since February 2008. The dominant trend still point to the downside, but the area between 0.7400 and 0.7450 has become an important support for the euro.
On Wednesday the pair fell sharply from 0.7590 and found support around the 0.7450 area, that is being tested today. Yesterday the euro recovered ground against the pound, but it failed to hold above 0.7500 and today is moving with a bearish bias.
The EUR/GBP erased all weekly gains after the reversal. Now is headed toward the lowest weekly close since February 2008. The dominant trend still point to the downside, but the area between 0.7400 and 0.7450 has become an important support for the euro.