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.
The drop in EUR/GBP is also propping up cable as the pair climbs to 1.3830 levels with buyers looking to push past the 200-hour moving average there currently.
