EUR/GBP falls to 2-week lows

By FXstreet.com | Updated 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).



Related Forex Analysis
  1. GBP/USD knocks the 1.5800 doors
    Forex News

    GBP/USD knocks the 1.5800 doors

  2. EUR/GBP drops to test weekly lows
    Forex News

    EUR/GBP drops to test weekly lows

  3. EUR Short Covering Elusive as More Talk of QE Inspires Bears
    Forex News

    EUR Short Covering Elusive as More Talk of QE Inspires Bears

  4. EUR/GBP wavers after UK GDP
    Forex News

    EUR/GBP wavers after UK GDP

  5. EUR/GBP Technical Analysis: Euro Trying to Regain Support
    Forex News

    EUR/GBP Technical Analysis: Euro Trying to Regain Support

Trading Center