Skip to main content

EUR/GBP still clinging to 0.8500 but for how much longer?

The Pound has been outperforming the Euro since last week and that saw the EUR/GBP come very close to breaking below the 0.8500 handle for the first time since August last year. Granted the Euro did just trade below 0.8500 in February, but only by literally a pip. The 0.8500 handle was tested last week, but it held and closed on Friday at 0.8516. Earlier today it traded to a high at 0.8526, but right now it is edging lower again and close to session lows. A clean break below the 0.8500 handle could deliver a decent sized move to the downside, but that is by no means guaranteed, given how many times the Euro has rejected a sustained move below this price point. However, at the same time, the fundamentals continue to favour the Pound over the Euro, when looked at in terms of upcoming monetary policy changes. The EUR/GBP is right now trading at 0.8506

Ready to Get Started?

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