Skip to main content

EUR/GBP edging lower again so far today

Since my last update on the price action of the EUR/GBP yesterday afternoon, the pound has been making a little more progress. Hence, the EUR/GBP is a little lower this morning, after closing in the US last night at 0.8537. Look, I will make no secret about the price action on this pairing, because it is extremely tricky and difficult to navigate most days and that is largely because of its use as price discovery vehicle on the major platforms. It is not a wash as such, but it is consistently being used as a way to circumvent liquidity troughs in the EUR/USD and the GBP/USD. That said the bias here remains firmly fixed on the downside, unless and until the fundamental backdrop changes. So, the Euro is edging a little lower this morning and once again grinding closer to a possible test of that all important 0.8500 handle. 
 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!