EUR/GBP drops further to the 0.9100 area, as pound outperforms

  • Euro hits multi-day lows versus dollar, pound and Swiss franc.
  • Pound continues to recover after last week sell-off.

The EUR/GBP is falling for the third consecutive day in a row. From the last week high it has fallen almost two hundred pips making an important reversal. Recently it bottomed at 0.9094, the lowest since last Thursday.

Economic data from the UK released earlier on Wednesday showed higher than expected CPI numbers but it was not the catalyst for the slide of EUR/GBP. The euro weakened on the back of speculations about the need for more stimulus from the European Central Bank.

On the contrary, the pound is again among the top performers of the currency market supported by risk appetite and mainly by some sings that the United Kingdom government could soften its internal market legislation. Still, tensions between the UK and the Europe Unions are in place.

Market participants now turn their attention to the FOMC meeting. The Federal Reserve will announce its decision that could trigger market volatility.

Technical levels

The immediate support in EUR/UGBP is the 0.9100 level: a consolidation below would suggest more weakness ahead while the next support strand at 0.9065. On the upside, resistance levels might be seen at 0.9170 followed by 0.9205/10.



Today last price 0.9113
Today Daily Change -0.0078
Today Daily Change % -0.85
Today daily open 0.9191
Daily SMA20 0.9023
Daily SMA50 0.9034
Daily SMA100 0.8982
Daily SMA200 0.8808
Previous Daily High 0.9259
Previous Daily Low 0.9184
Previous Weekly High 0.9292
Previous Weekly Low 0.8929
Previous Monthly High 0.907
Previous Monthly Low 0.8909
Daily Fibonacci 38.2% 0.9212
Daily Fibonacci 61.8% 0.923
Daily Pivot Point S1 0.9164
Daily Pivot Point S2 0.9136
Daily Pivot Point S3 0.9088
Daily Pivot Point R1 0.9239
Daily Pivot Point R2 0.9287
Daily Pivot Point R3 0.9314



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.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD trades at fresh September lows

Risk-aversion is the main theme this Monday, amid resurgent coronavirus cases in the Old Continent and the announcement of  new lockdowns. ECB’s Lagarde said the economic recovery in the EU is “very uncertain, uneven and incomplete.”


GBP/USD extends slump sub-1.2800

The Pound plunged on a dismal market mood, as PM Johnson acknowledged the kingdom is undergoing a second coronavirus wave. GBP/USD trades at one-week lows around 1.2800.


XAU/USD bullish bias starting to fade

Gold prices are testing the bull's commitments at the support structure around $1,906 in what could be a final test before the next leg higher of the bullish trend.

Gold News

Bitcoin needs to defend critical support level at $10,600

Bitcoin was trading inside an ascending triangle pattern between September 3 and September 15, which is created when the price establishes higher lows and a horizontal trendline around the swing highs. 

Read more

WTI plummets to $39, down more than 4%

Crude oil prices closed the previous week sharply higher but erased a large portion of those gains on Monday. As of writing, the barrel of West Texas Intermediate was down 4.2%, the biggest daily percentage decline in nearly two weeks, at $39.15.

Oil News