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11 Dec 2014
EUR/GBP reversed sharply and dropped below 0.7900
FXStreet (Córdoba) - EUR/GBP lost more than 50 pips from the highs and made a strong reversal. The pair peaked after the release of T-LTRO results at 0.7953, reaching the strongest level since December 1 but then the euro lost momentum.
From the highs the pair fell constantly, losing 65 pips in a few hours and bottomed recently at 0.7882, slightly below yesterday's lows. Currently trades at 0.7882, down 0.50% for the day. EUR/GBP is now back at the same level it had at the beginning of the week.
EUR/GBP unable to hold above 0.7925
Earlier the pair broke above 0.7925 for the first time in almost two weeks but failed to consolidate above and retreated. To the downside, below 0.7880 the next support lies at 0.7860 and then 0.7830 (Dec low).
From the highs the pair fell constantly, losing 65 pips in a few hours and bottomed recently at 0.7882, slightly below yesterday's lows. Currently trades at 0.7882, down 0.50% for the day. EUR/GBP is now back at the same level it had at the beginning of the week.
EUR/GBP unable to hold above 0.7925
Earlier the pair broke above 0.7925 for the first time in almost two weeks but failed to consolidate above and retreated. To the downside, below 0.7880 the next support lies at 0.7860 and then 0.7830 (Dec low).