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EUR/GBP lower trend in place again as EUR/USD falls below 1.0950

The EUR/GBP is just now falling to fresh interim lows. The move lower follows another lower daily close last night and a reaction in the EUR/USD that has seen it extend a downside move to below 1.0950 just now. That comes following the release of some French CPI data. Just like the German CPI data that was all released yesterday, the French data has come in below forecasts and that has undermined the Euro versus the dollar and the pound. So, the EUR/GBP trend lower remains intact so far this morning. I reminded readers here about that yesterday too. The EUR/GBP closed last night at 0.8641, as it continues to hold and fall further below its 200 day moving average. This French CPI data has done it no favours either and there is the prospect of further sales into the month-end today too. I am not forecasting such, but that potential exists, especially given the relative interest rate outlook for the UK and the EU in place right now. The EUR/GBP is currently trading at 0.8628
 

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