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14 Mar 2013
Forex: EUR/GBP extends decline to 1-week low
The euro extended losses versus the pound during the New York session as the British currency strengthened across the board and dragged EUR/GBP to a 1-week low.
EUR/GBP fell as low as 0.8620 in recent dealings before finding support and bouncing slightly. At time of writing, EUR/GBP is trading around 0.8625, still down 0.7% on the day.
If the pair falls below 0.8620, next supports are seen at 0.8600 (psychological level) and 0.8575 (Feb 26 low). On the other hand, resistances in case of bounces could be found at 0.8685 (intraday high), 0.8700 (psychological level) and 0.8745 (Mar 13 high).
EUR/GBP fell as low as 0.8620 in recent dealings before finding support and bouncing slightly. At time of writing, EUR/GBP is trading around 0.8625, still down 0.7% on the day.
If the pair falls below 0.8620, next supports are seen at 0.8600 (psychological level) and 0.8575 (Feb 26 low). On the other hand, resistances in case of bounces could be found at 0.8685 (intraday high), 0.8700 (psychological level) and 0.8745 (Mar 13 high).