Thursday, October 15, 2026

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FxWirePro: EUR/GBP rebounds from 1-week low as UK faces new trade negotiations

The euro rebounded from a 1-week low against the British pound after the United Kingdom exited the European Union on Friday. Britain faces negotiations on reaching a new trade and future relationship deal with the bloc b…

By FxWirePro Team
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FxWirePro: EUR/GBP rebounds from 1-week low as UK faces new trade negotiations
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  • The euro rebounded from a 1-week low against the British pound after the United Kingdom exited the European Union on Friday.
     
  • Britain faces negotiations on reaching a new trade and future relationship deal with the bloc by the end of 2020.
     
  • EUR/GBP is trading 0.4 percent up at 0.8438, having hit a low 0.8387 on Friday, its lowest since January 24. 
     
  • Technical indicators are biased higher on hourly charts: RSI strong at 66.20, Stochs are at overbought levels and MACD supports upside. 
     
  • Immediate resistance is located at 0.8454, a break above could take it near 0.8469 (20-EMA). 
     
  • On the downside, support is seen at 0.8390, a break below could drag it till 0.8357.

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By FxWirePro Team