EUR/GBP drops to fresh weekly lows as Euro tumbles


  • Euro weakens across the board following comments from ECB official. 
  • Pound among top performers of the day, UK data surpass expectations. 

The EUR/GBP pair continued to decline during the American session and bottomed at 0.9155, the lowest level since August 5. The Euro is falling for the fourth-day in-a-row versus the Pound, on its way to the first weekly gain since April. 

GBP between UK data and the usual Brexit talk, EUR down 

UK retail sales data released today surpassed expectation by showing an unexpected increase in July. Around the Brexit, no new critical information surged today so far. Rumors and speculations are all around, having no impact on the Pound. 

The Euro today was falling against the Pound and accelerated to the downside across the board following comments from European Central Bank board member Olli Rehn. He said the stimulus package to be announced in September should be significant and impactful and that it could be larger than market expectations. EUR/USD printed fresh lows under 1.1100 after those comments, adding to Euro’s overall weakness. 

EUR/GBP Levels 

To the downside, support levels are seen at 0.9150 followed by 0.9125 (August 2 & 5 low) and 0.9085. On the upside, short-term resistance levels are now seen at 0.91800, 0.9225 (Aug 14 low) and 0.9250 (Aug 15 low). 

EUR/GBP

Overview
Today last price 0.9163
Today Daily Change -0.0072
Today Daily Change % -0.78
Today daily open 0.9235
 
Trends
Daily SMA20 0.9121
Daily SMA50 0.9017
Daily SMA100 0.8847
Daily SMA200 0.8823
Levels
Previous Daily High 0.9278
Previous Daily Low 0.9229
Previous Weekly High 0.9318
Previous Weekly Low 0.9132
Previous Monthly High 0.9192
Previous Monthly Low 0.8892
Daily Fibonacci 38.2% 0.9248
Daily Fibonacci 61.8% 0.9259
Daily Pivot Point S1 0.9217
Daily Pivot Point S2 0.9199
Daily Pivot Point S3 0.9168
Daily Pivot Point R1 0.9265
Daily Pivot Point R2 0.9296
Daily Pivot Point R3 0.9314

 

 

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