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Nothing has changed for the EUR/GBP yet today
Yesterday an update here wondered when, if ever the EUR/GBP would take a proper dive lower, as the current fundamentals would suggest it should. Well, it seems we are still waiting on that to happen. At the same time, that update noted the downside price action was being held in check by the 200 day moving average, then at 0.8682. That moving average is a little lower this morning, now just underneath 0.8681. So, that is still falling and as such could endorse a further drop. Indeed, following the release of the latest German IFO index a few moments ago, the EUR/GBP is trying to push lower again. It should also be noted; there is also support at 0.8687 too in the form of the 50 day moving average. So, as you can see we have those two important technical levels clustered close to each other right now. The EUR/GBP is currently trading at 0.8691. Blue horseshoe still loves cable by the way
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