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EUR/GBP trading at resistance near 0.8466/68

FXstreet.com (Barcelona) - The EUR/GBP has broken out of a sideways consolidation Monday, to recently touch an intraday high of 0.8473 during European trading.

However, recent movements have capped the pair at this level, moving the cross back towards 0.8466/68 at the time of writing. Despite this easing however, the cross remains in positive territory and according to Mataf.net analysts, the EUR/GBP will encounter resistances at 0.8466, followed by 0.8481, and ultimately 0.8499. Conversely, a break below 0.8433 will trigger support at 0.8415 and 0.8400.

Not much has occurred by ways of data or catalysts – earlier today in Italy, Industrial Orders n.s.a. (YoY) came in at -10.0% in March, compared with only -7.9% previously. Moreover, Industrial Orders s.a. (MoM) yielded a growth of +1.6%, improving from -2.5% in the previous quarter. Finally, Industrial Sales n.s.a. (YoY) declined -7.6% in the March quarter, relative to a figure of -6.0% previously.

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