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FxWirePro: GBP/USD dips lower on negative UK retail sales data

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

Friday, October 7, 2016 4:25 AM UTC

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

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