Euro Declines to 0.803 Against the Pound

on Sep 18, 2012
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The euro lost to the pound sliding down to 0.803 throughout the European session following the morning release of mild German and UK economic data.

EUR/GBP started at a morning high of 0.807 and dropped back as the London session began, edging lower by -0.22 percent at 0.8050.
With UK data coming close to expectations, the euro lost some further ground against the British Pound. UK CPI was at 2.5 percent Year-on-Year (YOY) and 0.5 percent Month-to-Month (MOM) but 2.1 percent against 2.3 percent previous for Core CPI. German economic data provoked mixed responses as the Economic sentiment was at -18.2 against expected -19, while Current Situation data came in at 12 against expectations of 17.7.
FXstreet reported that according to Forex Ticker analysts, the EUR/GBP will be trading between 0.8055 and 0.803 for the next couple of hours but will meet extended resistance and support at 0.8075 and 0.8.
Sources:
http://www.fxstreet.com/news/forex-news/article.aspx?storyid=104ed785-05fb-482b-931f-521cb5444f0d

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