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EUR/GBP rally continues
The euro’s bounce continues, and with sterling weak as well this currency pair has been one of the more interesting ones to watch. The current rally is still, it must be stressed, part of a longer-term downtrend, but it still looks quite robust at this stage. We can expect some resistance to materialise at the 50-day SMA (£0.7143), but the real struggle will take place around the 100-day SMA at $0.7193. The key event today will be a firm close above £0.71, the high from last Thursday’s session.