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FxWirePro: EUR/GBP rangebound, EU-UK tussles and fear of virus resurgence due to Britain’s unlock weigh on pound

Wednesday, March 10, 2021 9:11 AM UTC

EUR/GBP chart - Trading View

EUR/GBP was trading 0.07% higher on the day at 0.8565 at around 09:00 GMT, bias remains bearish.

The British pound remains under pressure amid fears of rising coronavirus (COVID-19) cases due to the latest unlock in the UK.

Also weighing on the pair could be the EU-UK tussles and a light data calendar. UK’s anticipated £5 billion a year losses in e-commerce, due to Brexit adds to the woes.

EUR/GBP was down 1.04% for the month till date with scope for further weakness.

Price is on a downward spiral for the 6th straight month. Breaks into monthly cloud.

Technical indicators are biased lower. The pair is on track to test 110-month EMA at 0.8465.

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FxWirePro: EUR/GBP rangebound, EU-UK tussles and fear of virus resurgence due to Britain’s unlock weigh on pound

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