Euro Declines to 0.803 Against the Pound

on Sep 18, 2012

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.


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