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EUR/GBP extends recovery from 6-week lows

FXStreet (Córdoba) - The EUR/GBP is recovering ground after 4 consecutive days of losses, as the pound weakens across the board.

The GBP is underperforming, allowing the EUR/GBP to extend its bounce off a 6-week low of 0.7890 scored yesterday. The pair has recovered more than 40 pips over the last sessions, but the 100-hour SMA has capped the advance at the 0.7935 zone. At time of writing, the EUR/GBP is trading at 0.7930, recording a 0.34% gain on the day.

EUR/GBP levels to watch

In terms of technical levels, if the pair breaks decisively above 0.7935, next resistances could be found at 0.7955/57 (10-day SMA/Aug 29 high) and 0.7965 (Aug 29 high). On the other hand, supports are seen at 0.7901/00 (daily low/psychological level) and 0.7890 (Sep 1 low).

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