EUR/GBP falls to fresh daily lows

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - EUR/GBP failed to regain the 0.7620 area and came under pressure during the American session, falling to fresh daily lows with the euro losing steam against the dollar and the pound as European stocks recovered from lows.

    EUR/GBP dropped nearly 50 pips and slid to a fresh low of 0.7574 in recent dealings but found support. At time of writing, the pair is trading at 0.7577, down 0.28% on the day.

    EUR/GBP technical levels

    In terms of technical levels, next supports are seen at 0.7562 (20-day SMA), 0.7500 (psychological level) and 0.7465 (Jan 13 low). On the other hand, resistances could be found at 0.7622 (Feb 1 high), 0.7660/65 (Jan 26, 27 & 28 highs) and 0.7755 (Jan 20 high).
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