Products You May Like
EUR/GBP trades to its highest levels since 23 September
The pair is posting fresh highs in over two months as the pound slides on the session on the back of more Brexit angst and jitters in trading this week. Cable is posting fresh lows for the week, nearing 1.3200 and EUR/GBP is seen gaining towards 0.9180 currently.
Of note, the pair is now closing in on the key trendline resistance formed from trading this year @ 0.9184 today.
A break above that will be a major tailwind for a push higher towards the late September highs of 0.9220 next before the 11 September high @ 0.9292 comes into play.
But as all things related to the pound ahead of the weekend, this is all subject to Brexit headline risks and there will be more to follow over the weekend as well.
The Monday gap is one to watch and therein lies the risks for the pound as well based on recent positioning. If there aren’t any positive news to follow before the close today, weak hands will be shaken off and that is perhaps what we are seeing here.