- The pound among the currencies that have risen the most so far on Monday.
- EUR / GBP remains bearish, but with support above 0.8540.
The EUR / GBP is falling modestly on Monday, after failing to sustain above 0.8570. The cross has just marked lows for the day at 0.8544, and is trading around 0.8550, with a bearish tone, but still with support above 0.8540.
The reversal of the EUR / GBP, which hours ago reached 0.8573, occurred before a strengthening of the pound throughout the market. The problems for him Brexi, due to the rise in cases of COVID-19Nor did Vlieghe’s statements from the Bank of England change the short-term tone.
The start of the week is with limited tours. Later the market focus will shift to the Fed decision and second quarter growth data for Europe and the US.
In the technical landscape, should it fall below 0.8535 / 40, the pound would be left with the path to go to test 0.8500. In the opposite direction, at 0.8580 is the first resistance; above it the euro would improve the outlook. The next key zone is 0.8610.
Technical levels
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.