The pair peaked at 0.7829 earlier after the release of inflation data from the United Kingdom, but found resistance around the 0.7830 area, where yesterday’s high lie and turned dramatically to the downside.
Recently the pair printed a fresh daily low at 0.7777, hitting the lowest price since January 2, after breaking the 0.7780/85 area that capped the downside on Friday and yesterday.
The rally of the EUR/GBP pair was used as an opportunity to sell again the euro. The common currency is again under pressure across the board, with EUR/USD back below 1.1800.
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