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EURGBP surges to 0.92000 again, inspite of positive UK economic release

EURGBP surges to 0.92000 region once again today. Pound loses strength and falls near 1.2106, as it is pressured by the concerns about Britain exiting the European Union without a deal. The pair is currently indecisive near 0.91800 which is +0.65 % for the day. UK Services PMI came in above estimates at 51.4 for the month of July, while Investor Confidence in the euro area tracked by the Sentix Index deteriorated further this month, dropping to -13.7. Inspite of today’s positive UK Service PMI, the pound failed to recover concerns over the broad-based poor performance from key fundamentals in the last months, keeping the sour prospect for the economy unchanged in the months to come and collaborate further with the bearish view on the currency. EURGBP currently stalling near 0.92000, would open doors for the Buyers once 0.92000 is broken which paves way to 0.92500 and 0.93000 2017 high. On the other side, a drop below 0.91800 will lead its way to 0.90950 and further to 0.90300.

EURGBP TODAY:
Daily open: 0.91299
Daily Last high: 0.91994
Daily Last Low: 0.91299
Daily current growth: +0.68%

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