Jens Nærvig Pedersen, Senior Analyst at Danske Bank, notes that EUR/GBP dropped below 0.8825 for the first time since 19 December, driven mainly by a selloff in EUR/USD.
“Technically, EUR/GBP still trades in neutral territory with key resistance and support seen at 0.8924 (4 Jan high) and 0.8761 (14 Dec low), respectively. EUR/GBP is likely to remain in the hands of investor appetite for EUR and Brexit news near term, and we still expect EUR/GBP to remain relatively volatile within the 0.8650 -0.90 range in coming months.”
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