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EUR/GBP continues to push lower as GBP/USD extends rise to test 1.3250
The Pound is doing well just now. The GBP/USD has pushed its way above the highs seen yesterday and that has allowed for some extension to test the 1.3250 mark. That move is partly driven by a lower dollar versus Europe just now and perhaps more importantly by further downside in the EUR/GP. The Euro has taken out a previous low at 0.8412 and it now pressing lower towards another previous low around 0.8400. This is very much the direction of travel advocated here for a few days now. The risk of a break below that 0.8400 handle could open a path to retest the current 2024 low, at 0.8383. Of course that is by no means guaranteed, but the Pound is on the up right now as you can clearly see. The GBP/USD is just now trading at 1.3249
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