15 Mar 2016
EUR/GBP extends gains as pound consolidates losses
EUR/GBP rose further during the American session and reached at 0.7860, the strongest level in two weeks. It was trading around 0.7850, a hundred pips above the level it closed yesterday.
The pair soared on Tuesday amid Brexit fears after a poll showed results favoring the exit. The pound tumbled across the board and then failed to recover ground. While EUR/USD rose during the last hours and is flat for the day, GBP/USD remains around the lows, falling 1.05% for the day.
EUR/GBP levels to watch
EUR/GBP is consolidating above last week highs that lie at 0.7849. If it rises further it could find resistance at 0.7890 and then at 0.7925/30 (2016 highs). On the opposite direction, support levels now might lie at 0.7825 (American session low), 0.7810 (20-hour moving average) and 0.7735 (March 11 & 14 low).
The pair soared on Tuesday amid Brexit fears after a poll showed results favoring the exit. The pound tumbled across the board and then failed to recover ground. While EUR/USD rose during the last hours and is flat for the day, GBP/USD remains around the lows, falling 1.05% for the day.
EUR/GBP levels to watch
EUR/GBP is consolidating above last week highs that lie at 0.7849. If it rises further it could find resistance at 0.7890 and then at 0.7925/30 (2016 highs). On the opposite direction, support levels now might lie at 0.7825 (American session low), 0.7810 (20-hour moving average) and 0.7735 (March 11 & 14 low).