EUR/GBP better bid after Puigdemont's speech, suspending the referendum result
Currently, EUR/GBP is trading at 0.8940, up 0.08% on the day, having posted a daily high at 0.8957 and low at 0.8925.
EUR/GBP has cemented its bid today on the back of Catalonia's Puigdemont speech when he was expected to set out independence plans for the first time since referendum that provoked a standoff with the Spanish government.
By the end of his delivery today, that was more of a history lesson than an outline of specific plans for separation, Puigdemont pleaded for the Spanish government to listen to the people and stop 'this repression', and to the EU, he hopes for their backing in such a requirement. He argues that the conflict between Spain and Catalonia can be solved in a peaceful manner. The euro was higher on the back of his intentions to negotiate plans for separation with the government and that he will be suspending the referendum result for the time being.
Catalonia's Puigdemont: We ask for mandate to declare Catalonia an independent state
Catalonia's Puigdemont: The referendum was a success despite obstacles
- Puigdemont: Proposes Suspension To Hold Talks
- Puigdemont: Proposes Suspending Referendum Result
- Puigdemont: Asks For Mandate To Declare Catalonia An Independent State
- Puigdemont: Wants To Follow Catalonian’s Will To Be An Independent State
- Puigdemont: Referendum Results Show We Have Won The Right To Be An Independent Country
- Puigdemont: Govt Has Sought Dialogue ‘Many Times’
- Puigdemont: Doesn’t See Companies Moving Hq’s ‘Affecting Economy Much’
- Puigdemont: Received Proposals From ‘Many Different Sides’
- Puigdemont: Catalonians Must Come Together, Despite Their Differences
- Puigdemont: Not Planning Any Threats Or Insults
- Puigdemont: Catalonia Is Now A European Issue
- Puigdemont: Vote Is An Exceptional Moment For Catalonia
EUR/GBP levels
The cross has extended the range from 0.8925 to the 0.8952 area on the day. On the wide, 0.9500 is now a key target while a reversal below 0.8743, the 14th July low and the 200-day ma at 0.8726, would be required to be a convincing reversal and could open up 0.8530, being the 78.6% retracement of the move seen this year. 0.8954 is a sticky resistance, but a break of there and 0.8962 opens 0.8990.