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Forex: EUR/GBP hovering over 0.8650

The pair remains under pressure on Thursday, retreating to the 0.8650 region after another failed attempt of breach 0.8670

The cross lost over a big figure after the release of the FOMC minutes on Wednesday, as market participants were rushing to scape from the sterling and the single currency. Today’s firmer tone in GBP and increased permeability in the EUR are weighting on the pair.

As of writing, EUR/GBP is losing 0.76% at 0.8653 facing the next support at 0.8629 (low Feb.21) ahead of 0.8625 (MA10d) and then 0.8597 (MA21d).
On the upside, a surpass of 0.8733 (Upper Bollinger) would open the door to 0.8764 (high Feb.20) and finally 0.8831 (high Oct.28).

Bearish pressure increases on the Euro

The European currency extended its decline against the dollar on Thursday amid renewed signs the euro zone economy is struggling after PMI came in lower than expected. Besides, the US dollar remains underpinned expectations the Fed may stop providing monetary stimulus after yesterday's FOMC minutes.
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Forex: EUR/USD resumes the slide

After touching a 6-week low of 1.3166, the euro managed to bounce versus the dollar although the recovery was short-lived as the EUR/USD was capped by 1.3230.
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