EUR/GBP resumes downtrend in fall to lowest level in a little over a year – ForexLive

EUR/GBP falls to 0.8510 – its lowest level since 28 February 2020

EUR/GBP D1 29-03

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.

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