EUR/GBP falls to 2-week lows

By FXstreet.com | August 25, 2014 AAA

FXStreet (Córdoba) - The EUR/GBP came under pressure Monday as the euro lags the pound in the recovery against the dollar.



The EUR/GBP is falling for a second day in a row, having almost completely surrendered gains inspired by disappointing UK employment data which sent the pair to a high of 0.8035 two weeks ago. The EUR/GBP has fallen as low as 0.7953, last seen Aug 13, and it was last trading at 0.7955, recording a 0.4% loss so far Monday.



With UK markets closed for a holiday, traders are still assessing Yellen and Draghi’s speeches, with an easy-breezy ECB stance and disappointing german data weighing on the euro.

EUR/GBP technical levels



In terms of technical levels, the EUR/GBP could find immediate supports at 0.7949 (30-day SMA), 0.7920 (Aug 13 low) and 0.7900 (psychological level). On the flip side, resistances are seen at 0.7982 (Aug 25 high), 0.8000 (psychological level) and 0.8015 (Aug 22 high).



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