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EUR/GBP tests resistance area

FXStreet (Córdoba) - EUR/GBP consolidates intraday gains near 2-week highs, but remains unable to break above the 0.7860 area, which has been capping the upside in every attempt since Thursday.

EUR/GBP staged a minor recovery found resistance at 0.7860 for third day in a row, confining the pair to a 20-pip range over the last hours. At time of writing, EUR/GBP is trading at 0.7855, 0.24% above its opening price.

Euro and pound have both recovered ground versus the greenback Monday, although the first has risen at a faster pace than the latter.

EUR/GBP technical levels

In terms of technical levels, should EUR/GBP break decisively above 0.7860, next resistances are seen at 0.7879 (38.2% Fibo of 0.8065 - 0.7766) and 0.7900 (psychological level). On the other hand, supports could be found at 0.7819 (10-day SMA/Oct 3 low), 0.7800 (psychological level) and 0.7789 (Oct 2 low).

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