Risk trends found themselves well supported after the ‘fiscal cliff’ talks on Friday, echoing in the evolution of both the sterling and the bloc currency. Ahead in the week, both currencies would face pressure as the BoE minutes are due on Wednesday and the EU finmin meeting will debate tomorrow with Greece on centre stage, ahead of the EU Leaders Summit kicking off on Thursday.
EURG/GBP is now posting meager gains at 0.8025 or 0.01% with the next resistance waiting at 0.8075 (high Oct.31) followed by 0.8078 (MA200d) and 0.8098 (high Oct.25).
On the flip side, a drop below 0.8011 (MA10d) would open the door to 0.7970 (low Nov.13) and then 0.7968 (low Nov.9).
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