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EUR/GBP Spikes Above 0.89 on Brexit Headlines

09/19/2018
at 12:58 PM

EUR/GBP gained almost 60 pips in no time as the GBP came under pressure after latest Brexit headlines. However, 100 and 200 hour MAs came on way and pair could not sustain above 200 hour MA and then eventually dropped below 100 hour MA. Still, the pair is keeping some of the gains. 

Earlier today, GBP was gaining against the rivals due to upbeat UK CPI. 

Now the investors and traders are eying at Mario Draghi's comments as his speech is due today. 

Technical Levels to Consider

Support: 0.8875 (100-DMA), 0.8825 (Jul. 13 low) and 0.8750 (Jun. 22 high).

Resistances: 0.8945 (50-DMA), 0.9000 (psychological level) and 0.9050 (Sep. 5 high).