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EUR/GBP sideways trading at 0.8542/43

FXstreet.com (Barcelona) - The EUR/GBP has been confined to a sideways path Monday, during which has shaped up to be a rather muted session with the United Kingdom on holiday – in these moments the pair is operating at 0.8542/43.

“The EUR/GBP is attempting to move lower, for a possible retest of the broken resistance around 0.8500 level, which should form a support and floor for dips, and price should resume the bullish breakout of the falling wedge pattern, towards 0.8635 upside target. Accordingly, we maintain our bullish view.” notes the ICN.com Technical Analyst Team.

At the time of writing, the EUR/GBP has is trading negatively -0.02% during European trading. Mataf.net analysts point to supportive means for pair at 0.8518, onto 0.8496, and ultimately 0.8456. Conversely, a break above the 0.8580 mark will initiate short-term resistances at 0.8620 and 0.8642.

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