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EUR/GBP set to lift further today?

The recent price action in the EUR/GBP has seen it continue to reject a move below 0.8550. The Euro keeps bouncing from that level. If you care to look at a daily chart of the price action you will seen what I am talking about. The EUR/GBP has rejected a drop below 0.8550 for 8 trading days in a row, including today, but it came close yesterday. Well, so far any rebound has been contained below the 0.8600 handle, but the longer the Euro rejects a drop below 0.8550, the greater the chance there might be of a more extended rise, perhaps to above 0.8600. The latest UK wages data, released earlier this morning has helped to lift the Euro a bit more since the close last night, where it ended that session at 0.8574. The low seen earlier today was set at 0.8558. It is currently trading at 0.8580
 

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