At the beginning of February, the EURGBP currency pair bounced upwards from the strong support level of 0.828. The ECB meeting became the reason, which results were interpreted by market participants by changes in the position of the European regulator towards the monetary policy tightening.
However, growth of the euro further was not supported by market participants and EURGBP resumed declining. One again, there is the significant level of 0.828 now. The EURGBP currency pair has not been below this level since spring of 2016 followed by the vote on Brexit.
In case of the downward breakdown of 0.828, the next important level will be the spring maximum of 2016 of 0.8116.
This content is for informational purposes only and is not intended to be investing advice.
