Thursday, October 15, 2026

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FxWirePro: EUR/GBP reverses from 7-year highs, holds above 0.89 handle

EUR/GBP retreated sharply from 7-year peaks of 0.9225, currently the pair is trading around 0.8945. GBP collapsed across the board after comments from French president Hollande coincided with a Fat finger error in the ca…

By FxWirePro Team
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FxWirePro: EUR/GBP reverses from 7-year highs, holds above 0.89 handle
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  • EUR/GBP retreated sharply from 7-year peaks of 0.9225, currently the pair is trading around 0.8945.
     
  • GBP collapsed across the board after comments from French president Hollande coincided with a Fat finger error in the cable.
     
  • Hollande referred to the possibility of a hard Brexit in order to protect the future of the EU.
     
  • GBP has remained under intense pressure following UK Prime Minister Theresa May's comments over the weekend.
     
  • UK Prime Minister Theresa May pledged to trigger Article 50 by the end of first quarter of 2017.
     
  • Technicals are in heavily overbought territory, we expect some consolidation at current levels.
     
  • Focus now on the US NFP figures, which may add to the market volatility and could trigger wild moves in both EUR and GBP.
     

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By FxWirePro Team