Ready to Get Started?
Start here. Join over 3M Libertex users around the world!
EUR/GBP edges down to set a new 2024 low at 0.8383
The rise above 1.30 today in the GBP/USD has helped to push the EUR/GBP lower. That price action dynamic was noted here earlier this morning and it is also worth noting; the fall in the EUR/GBP came despite the rise to a new interim high close to 1.0950 in the EUR/USD. So, the EUR/GBP has now dropped to set a new 2024 low, at 0.8383. The price in terms of the GBP/EUR reciprocal rate equates to 1.1928 and in terms of that, the 1.20 level is the next milestone. So, if we translate that back to EUR/GBP it comes out at 0.8333 and hence that is the next big support level and potential downside target for the Euro from here on. The EUR/GBP is currently trading at 0.8387
Market News
All News-
EUR/GBP stalls ahead of technical resistance level
Data released earlier today showed the UK government missed its borrowing target last month and that has put a bit more pressure onto UK government...
-
Canadian retail sales in the spotlight for the USD/CAD this afternoon
As noted here much earlier this morning, there are no US economic releases due out today. There is one North American one of note though and that is...
-
DAX falls below 22,819 as global stock markets retreat
Following on from recent updates looking at the US equity futures and the DAX after the opening, the German index has now crumbled again. It has now...
