EUR/GBP keeps gains, rebounds from 0.8500

EUR/GBP has come under further downside pressure following some sort of pick up in the demand for the Sterling, currently hovering over the 0.8520/30 band.

EUR/GBP returns from 0.8600

The European cross shed over a cent since the overnight advance to fresh peaks near 0.8630, although the correction lower appears so far limited around the key support at 0.8500.

Despite jitters around the ‘Brexit’ vote seems somewhat mitigated at the moment, they remain the exclusive catalyst behind the wave of selling pressure hitting GBP since Monday.

EUR/GBP key levels

The cross is now up 0.31% at 0.8530 and a breakout of 0.8628 (2016 high Jul.6) would expose 0.8651 (high Aug.28 2013) and then 0.8712 (high Jul.17 2013). On the other hand, the immediate support aligns at 0.8383 (high Jun.27) followed by 0.8062 (20-day sma) and then 0.7888 (55-day sma).