EUR/GBP falls to 0.8510 – its lowest level since 28 February 2020
The doesn’t appear to be much month-end woes for the pound in EUR/GBP this time around as the quid is catching a bid with the pair falling to its lowest levels in over a year.
The drop sees sellers push past the 24 February low @ 0.8538 and will be taking aim at the 0.8500 handle next. From a technical perspective, there is little in the way stopping the pair from a stronger push towards 0.8300 next.
There will be a trendline support seen @ 0.8438 currently but given how sellers have been persistent, that may offer little reprieve considering the divergence in the fundamental narratives between the euro and pound as well.