EUR/GBP turns to the downside from 1-week highs

By FXstreet.com | July 10, 2014 AAA

FXStreet (Córdoba) - The EUR/GBP hit a fresh daily low during the American session at 0.7935, extending the decline from 1-week highs. Before the Bank of England’s decision the pair climbed to 0.7968, the strongest level since July 3.



Afterward the Euro lost momentum across the board and pushed the EUR/GBP to the downside. The pair lost more than 30 pips in a few hours and bottomed hitting 2-day lows. Currently trades at 0.7944, down 0.08% for the day.



EUR/GBP still positive for the week



Despite pulling back on Thursday the Euro is still headed toward a modest weekly gains, recovering from 22-month lows. The dominant trend on a wider perspective remains bearish.



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