- Pound remains firm across the board and hits fresh highs.
- EUR/GBP erases most of yesterday’s losses, back near 0.8550.
- UK: House of Commons to vote on a ‘no deal’ motion.
The pound rose further during the last hours ahead of another Brexit related vote in the House of Commons. The EUR/GBP pair broke below 0.8575 and fell to 0.8553, hitting a fresh daily low.
As of writing, trades at 0.8560, 90 pips below yesterday’s highs. Despite all the Brexit drama, EUR/GBP still remains near multi-month lows and today close to the 0.8530/35 key support area. Volatility could remain low, even during the vote at the UK Parliament.
If, as expected, the vote is rejected today, there will be another vote on Thursday on the extension of Article 50. In the case that passes, the other 27 members of the European Union would have to support the extension. Today the EU's chief negotiator Michel Barnier said that the risk of a no deal has never been higher.
The EUR/GBP holds a negative intraday tone and also on a wider perspective. But Brexit related events are likely to limit the downside and continues to be the main risk.
EUR/GBP
Overview:
Today Last Price: 0.8556
Today Daily change: -0.0077 pips
Today Daily change %: -0.89%
Today Daily Open: 0.8633
Trends:
Daily SMA20: 0.865
Daily SMA50: 0.8757
Daily SMA100: 0.8827
Daily SMA200: 0.8854
Levels:
Previous Daily High: 0.8655
Previous Daily Low: 0.8475
Previous Weekly High: 0.8656
Previous Weekly Low: 0.8536
Previous Monthly High: 0.8842
Previous Monthly Low: 0.8529
Daily Fibonacci 38.2%: 0.8586
Daily Fibonacci 61.8%: 0.8544
Daily Pivot Point S1: 0.8521
Daily Pivot Point S2: 0.8408
Daily Pivot Point S3: 0.8341
Daily Pivot Point R1: 0.87
Daily Pivot Point R2: 0.8767
Daily Pivot Point R3: 0.888
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