Back
25 Aug 2014
EUR/GBP falls to 2-week lows
FXStreet (Córdoba) - The EUR/GBP came under pressure Monday as the euro lags the pound in the recovery against the dollar.
The EUR/GBP is falling for a second day in a row, having almost completely surrendered gains inspired by disappointing UK employment data which sent the pair to a high of 0.8035 two weeks ago. The EUR/GBP has fallen as low as 0.7953, last seen Aug 13, and it was last trading at 0.7955, recording a 0.4% loss so far Monday.
With UK markets closed for a holiday, traders are still assessing Yellen and Draghi’s speeches, with an easy-breezy ECB stance and disappointing german data weighing on the euro.
EUR/GBP technical levels
In terms of technical levels, the EUR/GBP could find immediate supports at 0.7949 (30-day SMA), 0.7920 (Aug 13 low) and 0.7900 (psychological level). On the flip side, resistances are seen at 0.7982 (Aug 25 high), 0.8000 (psychological level) and 0.8015 (Aug 22 high).
The EUR/GBP is falling for a second day in a row, having almost completely surrendered gains inspired by disappointing UK employment data which sent the pair to a high of 0.8035 two weeks ago. The EUR/GBP has fallen as low as 0.7953, last seen Aug 13, and it was last trading at 0.7955, recording a 0.4% loss so far Monday.
With UK markets closed for a holiday, traders are still assessing Yellen and Draghi’s speeches, with an easy-breezy ECB stance and disappointing german data weighing on the euro.
EUR/GBP technical levels
In terms of technical levels, the EUR/GBP could find immediate supports at 0.7949 (30-day SMA), 0.7920 (Aug 13 low) and 0.7900 (psychological level). On the flip side, resistances are seen at 0.7982 (Aug 25 high), 0.8000 (psychological level) and 0.8015 (Aug 22 high).