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25 Apr 2013
Forex: EUR/GBP falls below 100-DMA
FXstreet.com (Córdoba) - The euro slumped across the board and extended losses against the pound after the New York opening and leaving behind the 100-day SMA at 0.8442.
EUR/GBP accelerated losses after triggering stops below 0.8450/42 and slid to its lowest level in 3 months at 0.8408 before finding support. At time of writing, EUR/GBP is trading at the 0.8420 zone, posting a 1.2% loss on the day.
The British pound soared and accomplish solid gains versus most competitors on Thursday propelled by much better-than-expected UK Q1 GDP.
As for technical levels, next supports for EUR/GBP line up at 0.8400 (psychological level) and 0.8388 (low Jan 24). On the other hand, bounces could find resistances at 0.8440/50 (former support area) and 0.8500 (psychological level).
EUR/GBP accelerated losses after triggering stops below 0.8450/42 and slid to its lowest level in 3 months at 0.8408 before finding support. At time of writing, EUR/GBP is trading at the 0.8420 zone, posting a 1.2% loss on the day.
The British pound soared and accomplish solid gains versus most competitors on Thursday propelled by much better-than-expected UK Q1 GDP.
As for technical levels, next supports for EUR/GBP line up at 0.8400 (psychological level) and 0.8388 (low Jan 24). On the other hand, bounces could find resistances at 0.8440/50 (former support area) and 0.8500 (psychological level).