EUR/GBP: anchored at session lows after Westminster attack
|Currently, EUR/GBP is trading at 0.8663, up 0.00% on the day, having posted a daily high at 0.8703 and low at 0.8643.
UK Parliament attack update: 1 woman has died in the attack
EUR/GBP has been a u-turn trade on the Westminster terror attack that has caused fatalities and is a huge concern for UK markets. Nevertheless, sterling rallied 50 pips vs the greenback after the initial risk-off spike to the lows of the session at 1.2421. The cross has fallen back from 0.8699 and down to 0.8655 again where the pair is anchored at the time of writing while markets digest the developments and ongoing updates in respect to casualties and assailant(s).
The ultimate outcome of negotiations between the UK and the EU remains highly uncertain - Moody's
EUR/GBP levels
EUR/GBP near-term outlook is neutral according to analysts at Commerzbank: "The market remains near-term downside corrective. We continue to suspect that the market has lost upside impetus and will slide back to the 55 day ma at 0.8600. Above 0.8800, there is scope to tackle the 0.8852 January high. We look for the downside currently to be limited by the 200 day ma at 0.8559. Where are we wrong? Market is now bid above the 0.8556 200 day ma. Failure here will re-target the 0.8401 February low."
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