EURGBP Soars as Lockdown Drama Returns to Britain

Published by

Written By: Kevin George

Dec 21, 2020, 09:08 GMT 09:08

FTSE 100

Summary:

The EURGBP rate was 1.55% higher after further drama over the virus saw London and the rest of the U.K. move into strict lockdown.

The EURGBP rate was 1.55% higher after further drama over the virus saw London and the rest of the U.K. move into strict lockdown. The situation worsened as European countries banned travel between Britain and a Brexit deal is still not agreed.

France and Germany have joined a number of countries banning travel to and from the U.K. after a new variant of the coronavirus was found in the country. Boris Johnson is now set to chair a Cobra emergency meeting to try and defend from food shortages after France banned all freight.

Brexit talks are set to continue today after negotiators missed the EU Parliament’s Sunday evening deadline. Ministers would still have to approve a deal and were seeking time to hold an emergency meeting before the end of year deadline. The Scottish First Minister is now looking for Boris Johnson to seek yet another extension to the withdrawal agreement.

EURGBP Technical Outlook

The EURGBP rallied to 0.9200 and will now look to test the resistance near 0.9250-75. Support will now come in at 0.9175 for a pullback. The Investing Cube team is currently available to help all levels of traders with the Forex Trading Course or one-to-one coaching.

EURGBP Daily Chart

Written By: Kevin George

Kevin George has over twelve years' experience in financial markets trading, which included stints in London and New York, trading equities and currencies. He has also traded in commodities, equities, futures and options. He has extensive technical-experience and combines this with a fundamental overview. He has published for SeekingAlpha, where he runs his own subscriber newsletter and graduated with an MSc in finance in 2017.