EUR/GBP hits 11-month highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - The euro extended weekly gains versus the pound and reached above 0.7500 the strongest level since February 2014.

    EUR/GBP continues to rally

    The pair is rising for the third day in a row. During the American session broke to the upside after moving during hours in a range between 0.7455 and 0.7425. It jumped to 0.7516, hitting the highest in 11 months.

    Afterwards the pair pulled back and it was trading around 0.7490/95, 20 pips above yesterday’s closing price.

    is rising for the third day in a row accumulating a 200-pips gain. It is about to post the seventh consecutive weekly gain and the highest close in a year.

    A stronger euro, favored by risk aversion and a weak pound (with GBP/USD trading a the lowest since 2010, unable to find support) boosted the pair that has been rising constantly since late November from levels under 0.7000.
    For more information, read our latest forex news.

Share This Page

free forex signals