EUR/GBP weakens further, back below 0.8400

EUR/GBP is now losing further ground, breaking below the key support at 0.8400 the figures and posting fresh lows for the day.

EUR/GBP lower on buoyant GBP

The continuation of the bid tone around the Sterling keeps weighing on the European cross, which is threatening to test yesterday’s 3-week lows in the 0.8390/85 band.

Poor US Non-farm Payrolls (151K) have given extra wings to the Pound’s upside, in turn sending the cross lower as the single currency remains somewhat steady.

EUR/GBP key levels

The cross is now retreating 0.32% at 0.8403 facing the next support at 0.8388 (low Sep.1) followed by 0.8341 (low Aug.4) and finally 0.8248 (low Jul.14). On the other hand, a surpass of 0.8461 (resistance line prev support) would aim for 0.8566 (20-day sma) and then 0.8693 (high Aug.19).