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Cross Sees Early Slippage, 50-dma a Focus

EURGBP
  • Bit of a contrast between GBP and EUR so far Monday, with EUR/GBP seeing some decent slippage in recent trade to eye first support at 0.8647.
  • Break below here opens the 50-dma at 0.8637 and could see the cross take first steps to resuming 2021 downtrend.
  • UK reopens a little further Monday, with people in their forties now invited to receive the jab, meaning the government's first target has been hit.
  • UK data could take some focus this week, with IP/trade data tomorrow, while EUR focus is on ECB speakers today: Panetta & de Cos.

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