- UK PM Boris Johnson taken to intensive care for coronavirus.
- Pound drops across the board after the report.
The EUR/GBP broke to the upside after trading for hours in the range 0.8800/0.8760 and rose above 0.8820. The pound is under pressure after reports mentioned United Kingdom Prime Minister Boris Johnson has been taken to intensive care.
Johnson’s conditions worsened according to CNBC while CNN informed ha has not been put into ventilator. Prior to the reports the pound was holding firm to modest daily gains versus EUR, USD, CHF and JPY. Now it is falling back toward daily lows.
Versus the euro, the pound is lost daily gains over the last minutes. As of writing, EUR/GBP trades at 0.8828, looking at Monday’s highs at 0.8850/55. At the same time, GBP/USD is approaching 1.2200; a break lower would likely weaken further the pound.
Technical levels
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