EUR/GBP rises to 0.8015 on weak Pound
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EUR/GBP
FXstreet.com (Barcelona) - More British Pound weakness on the 15:00 GMT fixing while the Euro keeps steady at its lows has sent the EURGBP back above the 0.8000 sentiment level in a 30-pip rally from 0.7986.
During the EU Summit, Italian and Spanish bond buying by the bailout funds is being discussed. The EURGBP is currently trading at 0.8015.
"The market has immediate resistance at 0.8055 and 0.8081 (55 day ma) but will remain offered below the 0.8162 resistance, this is the 38.2% retracement of the move seen this year", wrote Commerzbank analyst Karen Jones.
During the EU Summit, Italian and Spanish bond buying by the bailout funds is being discussed. The EURGBP is currently trading at 0.8015.
"The market has immediate resistance at 0.8055 and 0.8081 (55 day ma) but will remain offered below the 0.8162 resistance, this is the 38.2% retracement of the move seen this year", wrote Commerzbank analyst Karen Jones.
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