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Euro Pound – Daily Candle Chart 3rd March 2009

With the euro pound pair continuing to consolidate sideways, there is little to do but wait I’m afraid. The moving averages are all closing as prices range between 0.8700 and 0.9000 with yesterday’s up bar providing no signal at all. Both the Euro and the UK pound will no doubt wait until Thursday for the main economic news which is the interest rate decision, although it is widely expected that both will cut by 0.5%, so it seems unlikely we will see any major moves until then. All the $undamental newsnow available on video and us updated twice daily, along with the latest currency news and live news feeds, and an economic calendar provides all the details and background to each release.

The short term, medium term and long term are all sideways.