Forex
Home›Forex›Major Pairs›EUR/GBP falls toward fresh 16-month lows amid euro ris…
EUR/GBP falls toward fresh 16-month lows amid euro risk concerns
The pair has been under sustained pressure in recent weeks, reaching its lowest levels since June last year as France's fiscal troubles unsettle European bond markets.
Forexlive said the euro is showing signs of weakness in addition to a stronger dollar, pointing to the EUR/GBP currency pair as traders look for more euro specific risk signals.
The outlet noted EUR/GBP is threatening fresh 16 month lows and has been under sustained pressure in recent weeks, falling to its lowest levels since June last year.
Forexlive linked the move to ongoing concerns about France's fiscal troubles, saying the situation is continuing to unsettle European bond markets and making it harder to ignore the possibility that traders are pricing in broader euro risks.
The outlet also cited a technical breakdown risk on the weekly chart, highlighting a “neckline break” as the pair’s chart is described as starting to look ominous.