- The pound is one of the best performing currencies on Wednesday, although it lost steam in recent hours.
- British Parliament will vote for the Brexit deal.
He EUR / GBP fell to 0.9012, the lowest level since Monday, before rebounding to 0.9050. The strength of the pound is what was behind the decline of the cross. Optimism in the markets and progress in the approval of Brexit favor the UK currency.
Another positive factor in the UK was the approval by regulators of the vaccine of AstraZeneca/Oxford. The novelty generated optimism in the stock markets throughout the world. Among currencies, the better mood weakened the dollar and indirectly favored the pound.
The rally of the pound was limited anyway, since despite the progress in the agreements of the Brexi, there are still some fears about the impact this may have as of January 1. Today parliament will vote on the agreement, which is expected to go smoothly.
From a technical point of view, in a broader perspective, the EUR / GBP continues with lateral movements and without a clear direction, on average 0.9050. A close below 0.8980 would point to more weakness ahead, while on the upside, if it occurred above 0.9150, the euro would be positioned for an extension of the bullish run.
Technical levels
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