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Forex: EUR/GBP hovering around 0.8100

By FXstreet.com January 04, 2013, 01:08:00 AM EDT

FXstreet.com (Barcelona) - EUR/GBP managed to stay above 0.8100 following massive down fall in EUR/USD printing fresh 3-week lows at 0.8085, bouncing from there as Cable was having a harder time than EUR/USD, and now trades around 0.8113 at session highs. The cross is still 12 pips lower for year 2013 so far.

With UK services PMI at 09:30 GMT as main risk event for the London session ahead in the Pound front, all eyes will be on the US NFP figure later on at 13:30 GMT, which, given current positive correlation between GBP and EUR, could not affect that much to the cross.

Immediate resistance to the upside for EUR/GBP shows at yesterday's highs 0.8121, followed by Wednesday's highs at 0.8156, and past Friday's Dec 28 lows at 0.8166. To the downside, closest support lies at recent session/Monday's lows 0.8102/0.8099, followed by yesterday's lows at 0.8085, and Nov 15 highs at 0.8065.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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