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Forex: EUR/GBP recovers the mark of 0.8451/52

FXstreet.com (Barcelona) - The EUR/GBP bounced off a trough that had entrenched the pair at the 0.8431 level (intraday low) during European trading Friday, subsequently bringing the pair back into positive territory. At this juncture, the cross is now operating slightly off its session highs (0.8457), settling at 0.8450/51 and recording a gain of +0.09%.

Briefing the technicals, according to the Mataf.net analyst team, the EUR/GBP will encounter the following short-term resistances at 0.8461, then 0.8488, and finally 0.8504. Conversely, the pair is slated to face support at 0.8420, then 0.8404, and ultimately 0.8378.

Earlier today in the United Kingdom, In the United Kingdom, the Goods Trade Balance (March) was reported at £-9.056B, against expectations of £-9.0B. Moreover, the Total Trade Balance (March) yielded a figure of £-3.13B, exceeding estimates of £-3.10B. Finally, the Trade Balance; non-EU gave £-3.47B in March, against projections of £-4.100B.

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