The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.
EUR/GBP controlled by the euro bulls
A spike higher to £0.8740 then brought out fresh sellers, but despite a drop in the early part of the session it looks like the euro bulls are in control here.
We need to see a recovery back above £0.87 to confirm strength, but so far in the past week, buyers have steadily lifted EUR/GBP, with higher lows indicating bullish momentum. Bears would likely seize control if the price fell below the £0.86 level.