EUR/GBP tumbles toward 0.9000 as Brexit talks set to resume

Pounds soars as Brexit are set to restart formally.
EUR/GBP drops on Wednesday a hundred pips, approaches monthly lows.

Matías Salord FXStreet

The EUR/GBP dropped further during the last hours after Bloomberg report that Brexit talks were set to restart, aiming for a deal by mid-November. The pair fell to 0.9016, reaching the lowest level since October 15. It remains near the lows under pressure.

The pound jumped across the board after the report, extending daily gains. The report mentioned that a decision could come in the next hours, with negotiators ready to resume talks to find a deal by November 13.

The decline in EUR/GBP is the most significant in months. The area above 0.9000 so far capped the slide. A break under 0.9000 could open the doors to more losses. The next support might be seen at 0.8965, followed by 0.8935.

On Tuesday, EUR/GBP offered some bullish signs by surpassing the 20-day moving average that stands at 0.9085. Price is back below with the momentum now favoring the downside.

Technical levels

EUR/GBP

Overview
Today last price	0.9024
Today Daily Change	-0.0106
Today Daily Change %	-1.16
Today daily open	0.913

Trends
Daily SMA20	0.9094
Daily SMA50	0.9066
Daily SMA100	0.9044
Daily SMA200	0.8884

Levels
Previous Daily High	0.9148
Previous Daily Low	0.908
Previous Weekly High	0.9122
Previous Weekly Low	0.9007
Previous Monthly High	0.9292
Previous Monthly Low	0.8866
Daily Fibonacci 38.2%	0.9122
Daily Fibonacci 61.8%	0.9106
Daily Pivot Point S1	0.9091
Daily Pivot Point S2	0.9051
Daily Pivot Point S3	0.9022
Daily Pivot Point R1	0.9159
Daily Pivot Point R2	0.9188
Daily Pivot Point R3	0.9228

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

USD/JPY eyes August swing low, near 155.20 ahead of US NFP

USD/JPY retests the August monthly swing low during the Asian session on Friday as a more hawkish repricing of BoJ rate-hike bets and a suspected intervention continue to underpin the Japanese Yen. Meanwhile, the US Dollar is seen consolidating the previous day's heavy losses amid soft US bond yields, further weighing on the currency pair as traders keenly await the US NFP report.

AUD/USD consolidates above 0.7200; US NFP awaited

AUD/USD holds steady above 0.7200, near its highest level since mid-May, as bulls await the US NFP report for more cues on the Fed's policy path before placing fresh bets. Meanwhile, the recent decline in US bond yields keeps the US Dollar depressed near its lowest level in over a week and acts as a tailwind for the Aussie amid the RBA's hawkish tilt.

Gold tumbles as blockbuster US NFP lift US Dollar, Treasury yields

Gold (XAU/USD) falls sharply on Friday, snapping a two-day recovery after the US Nonfarm Payrolls (NFP) report surprised strongly to the upside. The metal briefly climbed above $4,500 on Thursday, gaining nearly 2%, but has since erased a large part of that advance.

Crypto’s $638 million buyback boom may not be as bullish as it looks

Decentralized Finance (DeFi) protocols reportedly spent $638 million to buy back their native tokens in August, up 17% from a year earlier. On the surface, the buyback trend suggests the cryptocurrency industry is maturing fast, adopting one of Wall Street’s oldest tools to bolster valuations and distribute revenue. The headline becomes less impressive once the number is opened up.

Why hawkish Bank of Japan expectations aren't enough to sustain the Japanese Yen rally

The Japanese Yen (JPY) experienced a sudden burst higher after falling back below the 160.00 psychological mark against the US Dollar (USD) earlier this week amid a more hawkish repricing of Bank of Japan (BoJ) rate hike expectations.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.