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18 Jun 2013
EUR/GBP reaches 3-week peak
FXstreet.com (Córdoba) - The EUR/GBP managed to reverse its recent losses on Tuesday, underpinned by divergent EZ and UK economic data.
EUR/GBP rises above 100-day SMA
EUR/GBP climbed over 80 pips throughout the day, piercing above the 100-day SMA at 0.8545 and reached a 3-week high of 0.8581, following the release of US CPI. At time of writing, the cross is trading at the 0.8575 zone, where it records a 0.9% gain.
As for technical levels, if EUR/GBP manages to break above 0.8580, next resistance is seen at 0.8600 (psychological level), while supports could be faced at 0.8550/45 (intraday level/100-day SMA) and 0.8500 (psychological level).
EUR/GBP rises above 100-day SMA
EUR/GBP climbed over 80 pips throughout the day, piercing above the 100-day SMA at 0.8545 and reached a 3-week high of 0.8581, following the release of US CPI. At time of writing, the cross is trading at the 0.8575 zone, where it records a 0.9% gain.
As for technical levels, if EUR/GBP manages to break above 0.8580, next resistance is seen at 0.8600 (psychological level), while supports could be faced at 0.8550/45 (intraday level/100-day SMA) and 0.8500 (psychological level).