• EUR/GBP tracks higher on Monday in the European session.    
  • The German election poll attracted investors' attention.
  • EUR/GBP remains subdued following the election outcome.

After opening the session on a higher note, EUR/GBP loses part of its earlier momentum and hovers in a narrow trade band.  At the time of writing, EUR/GBP is trading at 0.8571, up 0.12% for the day.

The shared currency losses the earlier gains following the outcome of the German elections update. In the latest development Germany’s centre-left Social Democrats (SPD) have marginally won the country’s federal elections, beating the ruling conservative party. The SPD gained 25.7% vote, while the existing conservative CDU/CSU block gathered 24.1%.

Earlier in the week,the European Central Bank (ECB) President Christine Lagarde downplayed the inflationary concerns citing  most of the reasons as transitory.

Brexit woes continued to pressurise the sterling prospects. The European Union (EU) warned  Britain that triggering a safeguard clause in its Brexit deal governing trade with Northern Ireland (NI) was “not helpful” and the country should pursue solutions as per Reuters. On the economic side, the UK Consumer Confidence fell 5 points to -13, the steepest decline since October 2020.

As for now, traders are waiting for the Bank of England’s (BoE) Governor Andrew Bailey Speech, German Gfk Consumer Confidence to gauge market sentiment data.

EUR/GBP additional levels

EUR/GBP

Overview
Today last price 0.8564
Today Daily Change -0.0002
Today Daily Change % -0.02
Today daily open 0.8566
 
Trends
Daily SMA20 0.8566
Daily SMA50 0.8549
Daily SMA100 0.8569
Daily SMA200 0.8658
 
Levels
Previous Daily High 0.8577
Previous Daily Low 0.855
Previous Weekly High 0.8613
Previous Weekly Low 0.8532
Previous Monthly High 0.8599
Previous Monthly Low 0.845
Daily Fibonacci 38.2% 0.8566
Daily Fibonacci 61.8% 0.856
Daily Pivot Point S1 0.8551
Daily Pivot Point S2 0.8537
Daily Pivot Point S3 0.8524
Daily Pivot Point R1 0.8579
Daily Pivot Point R2 0.8591
Daily Pivot Point R3 0.8606

 

 

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