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20 Dec 2013
EUR/GBP bounces off lows and turns positive
FXstreet.com (Córdoba) - Following a short-lived dive to 2-week lows, the EUR/GBP bounced and reversed intraday losses as strong UK GDP figures were tempered by a wider than expected current account deficit.
The EUR/GBP initially fell to a low of 0.8929 but found support and bounced toward fresh daily highs at the 0.8360 area in recent dealings. The pair is currently trading around 0.8355, recording a 0.1% gain on the day.
EUR/GBP technical levels
As for technical levels, the EUR/GBP could find immediate resistances at 0.8362 (daily high) and 0.8395 (Dec 9 high). Meanwhile, supports are seen at 0.8329 (daily low), 0.8315 (Nov 22 low) and 0.8300 (psychological level).
The EUR/GBP initially fell to a low of 0.8929 but found support and bounced toward fresh daily highs at the 0.8360 area in recent dealings. The pair is currently trading around 0.8355, recording a 0.1% gain on the day.
EUR/GBP technical levels
As for technical levels, the EUR/GBP could find immediate resistances at 0.8362 (daily high) and 0.8395 (Dec 9 high). Meanwhile, supports are seen at 0.8329 (daily low), 0.8315 (Nov 22 low) and 0.8300 (psychological level).