The EURGBP pair moved slightly higher in overnight trading. The pair moved from a low of 0.9027 and reached an intraday high of 0.0.9100.
The continuation of the buying pressure around the Sterling is now dragging EURGBP to afresh 2-week lows in the 0.9100 neighbourhood.
The now better mood around the British Pound is dragging EURGBP to the mid-0.9200s following the opening bell in the Old Continent on Monday.
EURGBP is now picking up extra upside traction and moves at shouting distance from yesterday’s 2019 highs in the 0.9250/60 band.
The broad-based range-bound prevailing in both the Sterling and the shared currency is prompting EURGBP to follow the same theme in the 0.9100 area.
EURGBP keeps losing momentum this week and is now threatening to test the key support at 0.8900 the figure.
Euro gains on strong US NFP figures, as NFP is up by 78,000 jobs, whilst the Unemployment Rate has fallen to 3.6%, which is nearly the 50-year low.
The EURGBP Technical Outlook reveals most of what is driving this pair as most headlines are emanating from both London and the European Union,
The EURGBP builds Bullish Momentum and as we know, the market has been in an uptrend for some time, and the pullbacks continue in buying opportunities.
EURGBP - is expected that the price goes up towards the resistance and a subsequent bounce to continue its bearish movement.
Will the key level support hold once again? Will the gap created close? A EURGBP Harmonic Analysis will show what possibilities lie ahead.