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EUR/GBP consolidates below 0.8000

FXStreet (Córdoba) - The EUR/GBP pulled back below 0.8000 on Friday, but remained above weekly lows. During New York session the pair spiked to 0.7993 on Mario Draghi’s remarks in Jackson Hole, but then retreated.

On Asian hours the EUR/GBP climbed to 0.8014 reaching a 2-day low but then lost momentum, fell toward 0.8000 and then below the mentioned level pushed by a decline in the EUR/USD that hit fresh 2014 lows.

The Euro is posting moderate losses for the week against the Pound. It is the first weekly decline after rising during the previous three weeks. In the last five days the EUR/GBP moved in a small trading range between 0.8025 and 0.7970, inside the previous week price range.

EUR/USD popping up for air ahead of further losses?

EUR/USD is up a tad on the release of Draghi’s speech. However, there wasn’t a great deal in his comments although something to take note from was that the expected diverging policy paths in US and euro zone should sustain exchange rate trend.
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GBP/USD resting up after a troublesome week

GBP/USD is trading at 1.6577, down -0.02% on the day, having posted a daily high at 1.6598 and low at 1.6561.
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