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EUR/GBP establishing fresh lows at 0.8546/53

FXstreet.com (Barcelona) - The EUR/GBP has weakened across European trading, establishing fresh session lows at the time of writing amidst a mounting downtrend.

According to the ICN.com Technical Analyst Team, “The EUR/GBP upside was rejected several times and has formed a series of bearish candles at 0.8600 level, threatening that a downside correction is imminent. Therefore, although we maintain our overall bullish bias, we expect a minor intraday downside correction.”

In these moments, the NZD/USD is trading back in negative territory at 0.8546/53 Thursday. Technically speaking, the Mataf.net analyst team points to support levels levels at 0.8537, onto 0.8514, and ultimately 0.8486. Alternatively, a thrust into positive territory will eventually drive the pair towards resistances at 0.8588, then 0.8616, onto 0.8639.

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