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9 Apr 2015
EUR/GBP tests April lows again
FXStreet (Córdoba) - The euro weakened across the board and pushed EUR/GBP to the downside. The pair peaked at 0.7277 but reversed and dropped toward daily lows. Currently trades at 0.7235/40, about to post the lowest daily close for the month.
The pair has fallen every day since the beginning of the week. The decline was capped by the area around 0.7220, that has become a key short term support, where April lows lie. A break lower would send the pair to levels last seen in mid March.
On a weekly basis, the euro is falling against the pound after rising during three consecutive weeks. The recovery from multi-year lows 0.7012 (Mar 11 low) lost strength below 0.7400.
The pair has fallen every day since the beginning of the week. The decline was capped by the area around 0.7220, that has become a key short term support, where April lows lie. A break lower would send the pair to levels last seen in mid March.
On a weekly basis, the euro is falling against the pound after rising during three consecutive weeks. The recovery from multi-year lows 0.7012 (Mar 11 low) lost strength below 0.7400.