EUR/GBP off lows, testing 0.7680

After bottoming out in fresh multi-week lows near 0.7650, EUR/GBP has now managed to regain some pips and return to the 0.7675/80 band.

EUR/GBP focus on risk trends

The European cross has been trading in a tight range along with the rest of its peers at the end of the week, against the backdrop of scarce data/events in both UK and Euroland calendars.

The cross seems to have found a base in the area of multi-week lows near 0.7650 for the time being, looking to consolidate the sharp drop from May peaks in the mid-0.7900s.

EUR/GBP key levels

The cross is now up 0.13% at 0.7678 facing the next hurdle at 0.7779 (100-day sma) followed by 0.7827 (20-day sma) and then 0.7947 (monthly high May 4). On the flip side, a breach of 0.7650 (low May 19) would expose 0.7523 (low Jan.22) and finally 0.7513 (200-day sma).