EUR/GBP breaks above 0.9000 as Pound sinks
|- EUR/GBP surges pass 0.9000 on rumors PM May will pull out Brexit vote.
- PM May to pull out the key Brexit vote from Parliament.
The EUR/GBP cross trades around 0.9010 at the time being, its highest in over a month, up for the day amid Pound's weakness. Cabinet members were called for an emergency meeting at Downing Street, said to discuss the Brexit vote that should take place in the Parliament, scheduled for this Tuesday. A spokesman for Mrs. May said that the vote would take place as planned but there are now multiple sources out suggesting that the Prime Ministers will pull it out. The Pound is down against all its major rivals, challenging yearly lows against USD. Over the past couple of weeks, speculation mounted that PM May's plan won't pass the Parliament.
The EUR/GBP has been struggling with its 200 DMA throughout the past week, with the shorter ones below the larger. Now the daily chart shows that it´s firmly advancing above all of its moving averages while technical indicators gain upward momentum within the positive ground, supporting additional gains ahead. October 12 daily high at 0.9032 comes as immediate resistance, followed by the 0.9050/60 price zone. Supports come at 0.9000, followed by the daily low, at 0.8957.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.