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Play of the Day: Is EUR/GBP Getting Ready to Make New Monthly Highs?


In case you’ve been too busy watching USD pairs in the past few weeks, you should know that the euro has found some support from a combo of USD weakness, stronger-than-expected Eurozone data, and relatively hawkish European Central Bank (ECB) statements.

Meanwhile, latest economic reports from the U.K. point to less pressure on the Bank of England (BOE) to tighten their policies further, at least in the foreseeable future.

These are probably why EUR/GBP found support from .8650 earlier this month and eventually extended its longer-term uptrend.

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