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29 Mar 2013
Forex: EUR/GBP keeps 2-month lows around 0.8430
FXstreet.com (Barcelona) - The pair is testing Thursday’s lows on Good Friday around 0.8425/30, levels last seen in late January. The increased bearishness surrounding the single currency on Cyprus events contrasted with the stubbornness of the sterling to leave the 1.51-1.52 region against the greenback, intensifying the selling pressure on the cross.
According to I.Spivak, analyst at DailyFX, “Prices continue to push lower after completing a bearish rising wedge chart formation. Sellers are now testing support at 0.8408, the 38.2% Fibonacci retracement, with a break below that exposing the 50% level at 0.8282. Near-term resistance is at 0.8563, the 23.6% Fib.”
At the moment, the pair is losing 0.01% at 0.8436
According to I.Spivak, analyst at DailyFX, “Prices continue to push lower after completing a bearish rising wedge chart formation. Sellers are now testing support at 0.8408, the 38.2% Fibonacci retracement, with a break below that exposing the 50% level at 0.8282. Near-term resistance is at 0.8563, the 23.6% Fib.”
At the moment, the pair is losing 0.01% at 0.8436