EUR/GBP eases to fresh six-month lows, key support levels eyed

Technical Analysis

Author: Justin Low | eurgbp

EUR/GBP hits lowest level since May, moves closer towards key support region

EUR/GBP D1 18-11
The pound is continuing to extend its good form against the euro after a strong October month with price now easing towards key support levels around 0.8476 to 0.8529.

Sellers stay firmly in control of the pair with the euro sitting in limbo over the past few weeks while the pound keeps firm amid more positive Brexit momentum since last month.

As the pair eases towards the key support region mentioned above, it starts to become more of a technical play (even more than it already has).

A firm break below the region mentioned above will see price accelerate further towards the downside. But perhaps with cable also struggling to break 1.30, EUR/GBP may also find a near-term bottom for now until we get further pricing moves for the UK election.

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose