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Invasion fears concern markets

Invasion fears concern markets

GBP/EUR: The shared currency loses ground for the third consecutive day against the British pound amid a risk-off market mood spurred by Russia/Ukraine conflict. That said, at press time, the EUR/GBP is trading at 0.8354.

EUR/USD: has moved to a 1.1495 high from a 1.1123 low. Although the pair remains restrained by a 200-week moving average of 1.1493, it is building a constructive falling wedge pattern, as Benjamin Wong, Strategists at DBS Bank, notes.

GBP/USD: held on to its modest intraday gains around the 1.3535 region and had a rather muted reaction to the UK employment details. Having shown some resilience below the key 1.3500 psychological mark, the pair attracted some buying on Tuesday and reversed a major part of the overnight losses to a one-week low. The uptick, however, lacked bullish conviction and also seemed rather unaffected by mixed UK jobs reports.

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