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EUR/GBP still camped below 0.8550
In my final updates here the week before last I highlighted the potential for the Euro to continue to lose ground versus the Pound. Eventually, that saw the EUR/GBP break below 0.8550. The push to fresh 2024 lows came after the ECB kept its rates on hold on Thursday. That delivered a drop into the 4pm fix that day at 0.8521. It rebounded off that low on Friday, but it was able to make it back above 0.8550 and later closed on Friday at 0.8544. The range seen so far today has continued to see the price stall ahead of that 0.8550 level once more, peaking earlier at 0.8548. So, as you can see, this level is clearly providing resistance to any rebound again so far today. The Euro has since dropped back to 0.8529 and it is currently trading at 0.8530
Market News
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