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Dec 22 - 06:55 AM

EUR/GBP - Rises To 0.88 On ECB Expectations And Soft UK Data

By Rob Howard  —  Dec 22 - 05:05 AM
  • EUR/GBP climbs to 0.8800 on hawkish ECB rate expectations and soft UK data

  • 0.8800 is highest since Nov 15. ECB set to hike by 50 bps in Feb and March

  • See: nS8N2YN01J. UK Q3 GDP downwardly revised to minus 0.3%nL1N33C0FG

  • EUR/GBP resistance levels include 0.8820 and 0.8850 (GBP/EUR 1.13)

  • 0.8820 is 38.2% Fibo of 0.9260 (Sept 26 high) to 0.8548 (Dec 1 low)

Source:
Refinitiv IFR Research/Market Commentary

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