EURGBP at Five-Month Lows on Brexit Deal Agreement

EURGBP trading 0.40% lower at 0.8591 making fresh five-month lows on rumours that Brexit deal have been reached. EU’s Juncker said that there is a Brexit deal and GBPUSD jumped to fresh month highs at 1.2988.  Meanwhile, DUP reiterated its position from earlier today that it has reservations about the Brexit deal

EURGBP Support and Resistance Levels

EURGBP negative short term momentum gains traction after the pair breached below the critical 200-day moving average. On the downside, first support stands at 0.8574 the daily low and then 0.8489 the low from May 5th. Investors holding short positions might sit comfortably as long as the pair trades below 0.87. On the upside immediate resistance stands at 0.8631 the 200-day moving average,  and then at 0.8681 the daily high, while a break above will open the way for a move up to 0.8830 the 100-day moving average. For those looking to buy the pair, an entry point can be when the pair breaks convincingly above the 0.8631 resistance.

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EURGBP at Five-Month Lows on Brexit Deal Agreement
EURGBP at Five-Month Lows on Brexit Deal Agreement

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