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

March 29, 2021 by admin 0 Comments

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

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.

This article was originally published by Forexlive.com. Read the original article here.