EUR/GBP has dropped from APac session highs above 0.8900 to under 0.8850 in recent trade. No specific fundamental catalysts are clearly behind Tuesday’s downside in EUR/GBP. EUR/GBP has been pressing to the downside in recent trade, reversing fleeting Asia Pacific session gains that saw the pair move briefly above 0.8900 to drop to the 0.8850s. Not far to the downside is multi-month lows at 0.8830 set last week, an area the bears will have their eyes on. Driving the day No specific fundamental catalysts are clearly behind Tuesday’s downside in EUR/GBP. Some have cited the influence of month-end flows that may be going in favour of sterling (GBP has also seen gains versus USD in recent trade). Others are pointing to ongoing angst within the Eurozone regarding news of recent vaccine delivery delays from AstraZeneca and Pfizer that puts the bloc’s vaccination efforts even further behind that of the UK and EU’s. The EU has been lobbying the two pharmaceutical giants regarding these production delays over the last few days and is pressuring them to divert deliveries from elsewhere back to the EU. Some analysts are also pointing to ongoing Italian political risk as potentially weighing on EUR sentiment. Italian PM Giuseppe Conte “tactically” resigned on Tuesday and hopes to receive a new mandate to form a new government from Italian President Sergio Mattarella. The fear is that Conte might fail in his bid to form a new government, which could trigger another general election, which could potentially hand gains to anti-EU Italian Parties such as Matteo Salvini’s La Liga. Looking Ahead There is not much by way of data to be concerned about for the rest of the week out of the UK. Focus will instead by on the rate at which the country continues to vaccinate its population and the spread of the virus. Across the English Channel, EUR traders will be watching preliminary Q4 GDP numbers out of Germany, Spain and France, as well as preliminary December CPI numbers out of Germany and Spain. EU vaccination and lockdowns and travel restriction will, of course, also remain of crucial importance. 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 Gold Price Analysis: XAU/USD steadies above $1,850, key levels remain intact FX Street 1 year EUR/GBP has dropped from APac session highs above 0.8900 to under 0.8850 in recent trade. No specific fundamental catalysts are clearly behind Tuesday’s downside in EUR/GBP. EUR/GBP has been pressing to the downside in recent trade, reversing fleeting Asia Pacific session gains that saw the pair move briefly above 0.8900 to drop to the 0.8850s. Not far to the downside is multi-month lows at 0.8830 set last week, an area the bears will have their eyes on. Driving the day No specific fundamental catalysts are clearly behind Tuesday’s downside in EUR/GBP. Some have cited the influence of month-end flows that… Regulated 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.