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12 Mar 2015
EUR/GBP hits fresh highs above 0.7100
FXStreet (Córdoba) - The EUR/GBP pair resumed the upside after a modest bearish correction and printed a fresh 2-day high at 0.7131. Currently trades near the highs as the pound remains under pressure across the board.
After falling during seven consecutive trading days, EUR/GBP is rising for the first time, having the best day in months as it trades 65 pips above yesterday’s closing price. The pound tumbled in the market as GBP/USD broke below 1.4900 pushing EUR/GBP further to the upside.
Yesterday the pair bottomed at 0.7013, level last seen in November 2007 and today is recovering but still holding below the level it had a week ago, headed toward the sixth weekly decline in a row.
After falling during seven consecutive trading days, EUR/GBP is rising for the first time, having the best day in months as it trades 65 pips above yesterday’s closing price. The pound tumbled in the market as GBP/USD broke below 1.4900 pushing EUR/GBP further to the upside.
Yesterday the pair bottomed at 0.7013, level last seen in November 2007 and today is recovering but still holding below the level it had a week ago, headed toward the sixth weekly decline in a row.