- The pound extends its gains against the euro, remains among the best performers
- EUR / GBP is heading to the lowest close since April 6.
The EUR/GBP is taking the biggest daily loss in months on Monday, as the pound rises sharply across the board after elections in Scotland over the weekend.
The lower odds of a new independence referendum in Scotland after the elections led to a rebound in the pound. After the risk event, traders turn their attention to what the Bank of England announced last week. The pound fell last week and is among the top performers on Monday.
On Friday, the EUR / GBP ended up looking at the 0.8700 area. He failed to break it but remains close. After the weekly opening, it started to decline and accelerated in European time. It recently bottomed out at 0.85952, the lowest level since April 19.
At time of writing, it is trading at 0.8605. the area around 0.8600 is strong support and a close below would suggest more losses in the future. The next relevant support area is seen at 0.8545 / 50.
Technical levels
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