EUR/GBP looking to stabilize above 0.9000

After last week’s jump to the 0.9400 area, EUR/GBP has so far shed around 4 cents and is now attempting to consolidate around the 0.9000 handle.

EUR/GBP attention on GBP, ‘Brexit’

While circumstances regarding last week’s ‘flash crash’ in the Sterling still remain unclear, the European cross manages to keep the trade above the 0.9000 mark for the time being.

Market participants remain wary nonetheless of the situation around the British pound and the heightened risks arising as of late in regard to the potential economic and political consequences that could face the UK after ‘Brexit’ materializes.

Nothing worth mentioning data wise in the UK today, while trade conditions are expected to remain thin due to the inactivity markets in Japan and the US, among others.

EUR/GBP key levels

The cross is now up 0.18% at 0.9023 facing the next hurdle at 0.9430 (2016 high, GBP flash crash Oct.7) followed by 0.9802 (monthly high Dec.2008). On the downside, a breach of 0.8698 (20-day sma) would aim for 0.8672 (4-month support line) and then 0.8329 (low Sep.6).