- Pound jumps across the board following comments from German Chancellor.
- EUR/GBP breaks range and tumbles toward 0.9000.
The Pound rose sharply and pushed EUR/GBP sharply to the downside. The pair is having the worst performance in months, extending the correction from August highs.
Brexit deal hopes boost GBP
Angela Merkel said that a solution to the Irish border could be found before the October 31 deadline. Her comments triggered some optimism to avoid a hard Brexit. UK Prime Minister Boris Johnson also meet French President Emmanuel Macron. According to Macron, Johnson must present concrete proposals for Brexit.
Today’s meetings and comments triggered a rally in the Pound that is the best performer in the market. EUR/GBP was hovering around 0.9120 and tumbled to 0.9027 in a few minutes, reaching the lowest since July 29.
As of writing trades at 0.9045, down 90 pips for the day. It is consolidating the breakout of a trading range between 0.9095 and 0.9170 that had been in place since last Friday.
The Euro continues with the correction that started two weeks ago from the multi-year high it reached at 0.9323. Since then it had fallen almost 300 pips, posting losses in six out of the last eight trading days.
|Today last price||0.9042|
|Today Daily Change||-0.0098|
|Today Daily Change %||-1.07|
|Today daily open||0.914|
|Previous Daily High||0.9164|
|Previous Daily Low||0.9115|
|Previous Weekly High||0.9326|
|Previous Weekly Low||0.909|
|Previous Monthly High||0.9192|
|Previous Monthly Low||0.8892|
|Daily Fibonacci 38.2%||0.9145|
|Daily Fibonacci 61.8%||0.9134|
|Daily Pivot Point S1||0.9116|
|Daily Pivot Point S2||0.9091|
|Daily Pivot Point S3||0.9067|
|Daily Pivot Point R1||0.9164|
|Daily Pivot Point R2||0.9188|
|Daily Pivot Point R3||0.9212|
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