EUR/GBP falls to fresh two-week lows
A weaker euro which isn't helped by a lack of support levels in EUR/USD certainly isn't helping the case for a continued push lower in EUR/GBP but the pound has certainly shown some resilience over the past few days.
Notably, EUR/GBP itself is respecting key technical levels so that perhaps is one comfort for pound buyers with the pair tracking lower after failing to get past key trendline resistance and its 200-day moving average (blue line) since the start of November.
The UK jobs data earlier reaffirmed improving labour market conditions, at least on the surface, so that should rebuff expectations of a December rate hike by the BOE.
As things stand, there is little in the way stopping a push lower in EUR/GBP towards the support region around 0.8400-20, so keep an eye out for that.
Elsewhere, cable is also seeing a modest uptick with price nudging up from 1.3425 to 1.3460 levels at the moment. Price action is settling in a more neutral near-term bias after a push above its 100-hour moving average earlier:
However, the dollar is still a force to be reckoned with at the moment and there is key near-term resistance residing at the 200-hour moving average @ 1.3679.
That leaves some room for the pair to play around with before figuring out the next push.
