EUR/GBP Drops to 3-Week Lows
EUR/GBP broke
a 24-hour trading range with resistance at 0.7915 and support at 0.7885
and dropped to 0.7867, hitting the lowest level since the beginning of
the month.
The pair remains near the lows, weakened by a stronger pound in the
market. While GBP/USD remains near 1.4400 consolidating yesterday’s
gains, EUR/USD is retreading trading at daily lows close to 1.1300. The
pound in among the top performers in the market as it continues to
rally.
EUR/GBP extends retreat
The pair is about to post the second weekly loss in a row, the first
time to do so since November 2015 as it continues to retreat after
hitting three weeks ago multi-years highs above 0.8100.
An improvement in polls of the position in favor of the UK remaining in
the European Union supported the pound, that is rising today, despite
weak economic data.
(Market News Provided by FXstreet)
