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26 Feb 2015
EUR/GBP drops below 0.7300
FXStreet (Edinburgh) - The offered tone in both the euro and the sterling area sending EUR/GBP to test fresh lows around 0.7280, levels last seen in December 2007.
EUR/GBP in multi-year lows
The sell off in the risk-associated space is gathering steam on Thursday, following the release of better-than-expected results in the US economy during the last month. The European cross is retreating for the third consecutive month so far, as the divergence in monetary policy from the ECB and the BoE remains the main driver behind the steep decline.
EUR/GBP relevant levels
At the moment the cross is losing 0.50% at 0.7279 and a breach of 0.7242 (low Dec.24 2007) would open the door to 0.7216 (low Dec.21 2007) and finally 0.7193 (low Dec.20 2007). On the other hand, the initial resistance aligns at 0.7344 (high Feb.25) followed by 0.7348 (high Feb.24) and then 0.7405 (high Feb.23).
EUR/GBP in multi-year lows
The sell off in the risk-associated space is gathering steam on Thursday, following the release of better-than-expected results in the US economy during the last month. The European cross is retreating for the third consecutive month so far, as the divergence in monetary policy from the ECB and the BoE remains the main driver behind the steep decline.
EUR/GBP relevant levels
At the moment the cross is losing 0.50% at 0.7279 and a breach of 0.7242 (low Dec.24 2007) would open the door to 0.7216 (low Dec.21 2007) and finally 0.7193 (low Dec.20 2007). On the other hand, the initial resistance aligns at 0.7344 (high Feb.25) followed by 0.7348 (high Feb.24) and then 0.7405 (high Feb.23).