Home EUR/GBP New York Price Analysis: Euro dropping towards 2019 lows vs. pound
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EUR/GBP New York Price Analysis: Euro dropping towards 2019 lows vs. pound

FX Street
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  • EUR/GBP is weakening to fresh 2020 lows en route towards the 2019 lows. 
  • The level to beat for bears is the 0.8300 figure. 

 

EUR/GBP daily chart

 

The EUR/GBP exchange rate is trading below its main daily simple moving averages (SMAs) suggesting a bearish momentum in the long term. As the market is falling the bears are likely heading towards the 0.8300 figure which was near the lowest point in 2019. A breach below this level would likely extend losses towards the 0.8200 and 0.8100 figures. Resistance is seen near the 0.8400, 0.8500 and 0.8600 levels.

Additional key levels

 

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