EUR/GBP remains bid after closing above 0.90 on Monday. UK’s coronavirus lockdown restrictions weigh over the British pound. Sterling is losing ground against its Eurozone counterpart, pushing EUR/GBP higher, with the UK imposing stricter restrictions to control the spread of the new coronavirus variant. With the country’s health system facing the risk of being overwhelmed by the new variant, UK’s Prime Minister Boris Johnson ordered England into a new national lockdown on Monday. “Everyone in England must stay at home except for permitted reasons during a new coronavirus lockdown expected to last until mid-February,” Johnson said. The tougher restrictions overshadowed Brexit and vaccine optimism and weighed over Pound. The currency remains under pressure at press time. EUR/GBP jumped from 0.8940 to 0.9018 on Monday and is currently trading near 0.9030, representing a 0.15% gain on the day. Further gains, however, may remain elusive, as EUR/USD is looking heavy. “The latest IMM data show net dollar shorts climbed to $30.4 billion in the week ended Dec. 29 while net EUR/USD longs stood at $21.875 billion, reflecting the market’s view that the trend will continue in 2021,” according to Reuters. The hourly chart shows the pair is struggling to capitalize on the breakout above a descending trendline confirmed on Monday. Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CNY: Chinese yuan hits highest since June 2018 FX Street 11 months EUR/GBP remains bid after closing above 0.90 on Monday. UK's coronavirus lockdown restrictions weigh over the British pound. Sterling is losing ground against its Eurozone counterpart, pushing EUR/GBP higher, with the UK imposing stricter restrictions to control the spread of the new coronavirus variant. With the country's health system facing the risk of being overwhelmed by the new variant, UK's Prime Minister Boris Johnson ordered England into a new national lockdown on Monday. "Everyone in England must stay at home except for permitted reasons during a new coronavirus lockdown expected to last until mid-February," Johnson said. The tougher restrictions overshadowed… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
