EUR/GBP week 47

The EUR/GBP cross maintained its bid tone through the early European session and climbed further beyond mid-0.8900s or fresh daily tops in the last hour.

The cross managed to attract some dip-buying on Thursday and for now, seems to have stalled its recent rejection slide from the key 0.9000 psychological mark. The uptick assisted the EUR/GBP cross to reverse the previous day’s losses to weekly lows, around the 0.8915 region and snap two consecutive days of losing streak.

Reports that the European Union (EU) leaders will demand the European Commission to publish no-deal plans tempered expectations that Britain and the EU could reach a Brexit divorce agreement by the beginning of next week. This, in turn, took its toll on the British pound and assisted the EUR/GBP cross to gain some positive traction.

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