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Forex pairs in this Article » EUR/GBP
FXstreet.com (Edinburgh) -The EUR/GBP continues its march higher on Wednesday, advancing beyond 0.8600 the figure ahead of the speech by Governor M.Carney due later.

EUR/GBP extends its recovery

The cross is advancing for the second consecutive session so far, recovering ground after the pronounced decline from late July-mid August, as the sterling has been losing ground after hitting recent highs. In light of today’s speech by M.Carney, analysts at TD Securities commented, “The initiation of forward guidance earlier this month hasn’t had the likely desired impact (lower rates) and Carney could attempt to make those points more strongly this morning—potential pressuring yields and the GBP”.

EUR/GBP relevant levels

The cross is now advancing 0.21% at 0.8632 with the next hurdle at 0.8669 (61.8% of 0.8870-0.8505) followed by 0.8696 (high Aug.5). On the downside, a break below 0.8611 (MA30d) would expose 0.8581 (low Aug.27) and finally 0.8579 (low Aug.26).
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