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EURGBP Soars as Lockdown Drama Returns to Britain

FTSE 100
FTSE 100

The EURGBP rate was 1.55% higher after further drama over the virus saw London and the rest of the U.K. move into strict lockdown. The situation worsened as European countries banned travel between Britain and a Brexit deal is still not agreed.

France and Germany have joined a number of countries banning travel to and from the U.K. after a new variant of the coronavirus was found in the country. Boris Johnson is now set to chair a Cobra emergency meeting to try and defend from food shortages after France banned all freight.

Brexit talks are set to continue today after negotiators missed the EU Parliament’s Sunday evening deadline. Ministers would still have to approve a deal and were seeking time to hold an emergency meeting before the end of year deadline. The Scottish First Minister is now looking for Boris Johnson to seek yet another extension to the withdrawal agreement.

EURGBP Technical Outlook

The EURGBP rallied to 0.9200 and will now look to test the resistance near 0.9250-75. Support will now come in at 0.9175 for a pullback. The Investing Cube team is currently available to help all levels of traders with the Forex Trading Course or one-to-one coaching

EURGBP Daily Chart