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.

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