EUR/GBP: the recovery movement back to 0,8700

FXStreet The EUR/GBP traded last on 0,8693 and to 0.03 percent in the red, after the High or Low of the last 24 trading hours at 0,8705 or 0,8656 was marked.

The currency pair EUR/GBP rebounded from the previous day’s losses. However, the pound sterling before the elections, the 08 is expected to. June-prone, especially because the Conservatives around the Prime Minister Theresa May continue to lose support.

The odds of the betting operator indicate, however, a victory of the incumbent head of government as a foregone conclusion. The probability for this was today, at 93.3 percent.

The Euro was charged on Tuesday in response to a possible Bankruptcy of Greece and the elections in Italy. The news resulted in the EUR/USD rate discounts on 1,1109, which corresponds to the lowest level in two weeks. The Euro was able to recover today.

EUR/GBP levels

The Commerzbank market analysts explained that the EUR/GBP has extended its price gains over the channel from the year 2017. «However, we are extremely careful and we believe that this is a false breakout of the dynamic was up eroding trend and this is considered as a stress factor,» they stressed. «In the case of a break of the previous week’s lows at 0,8524 losses on 0,8383 (Maitief) and 0,8334/04».

** FXStreet News Editorial, FXStreet**

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