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EUR/GBP buyers get a second bite at the cherry


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EUR/GBP is back above 0.9000 as the pound’s woes continue


ForexLive

After holding off a brief drop towards 0.8900 and testing daily support from the 23.6 retracement level, price has now climbed back higher as the pound continues to fall amid increasing focus on a no-deal Brexit outcome.
With price looking to hold above 0.9000, EUR/GBP will have a second chance to retest the month’s high and also the swing region around 0.9055-88 before potentially looking to angle for a break above the year’s high of 0.9108.
It’s still early in the week and we have lots more to deal with but with the pound not having much upside potential on its side, the path of least resistance remains for a move higher despite the monstrous run since the start of May.

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