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EUR/GBP drops to 2019 lows around 0.8470

The European cross has quickly fully reversed the May-August impressive rally to the area above the 0.9300 handle and it has shifted the focus entirely to the downside after falling to levels 0.84821 at our 1st support…where will wait to see a breakout to a stronger support level arounf 0.83000

The euro continues to shed ground amidst some recovery in the greenback coupled with alternating headlines from the US-China trade front.

The sterling gained extra momentum today after stop-orders were triggered following the breakout of the 1.30 handle vs. the buck, while latest election poll results keep pointing to a Tory majority win on the December 12 elections.

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04 Dec 2019 8:12 pm Posted by admin