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EUR/GBP weaker, challenges 0.7200

FXStreet (Edinburgh) - The offered tone in the pound and the euro is helping EUR/GBP to give away further ground on Tuesday, currently testing the key support at 0.7200 the figure.

EUR/GBP in multi-week lows

The European cross is putting the 0.7200 support to the test, level last traded in late August, following the generalized outflows from riskier assets against the backdrop of increasing concerns over global growth.

The absence of relevant events or news is not helping either, leaving the cross to the mercy of the risk appetite trends ahead of the opening bell in Euroland

EUR/GBP key levels

At the moment the cross is down 0.07% at 0.7209 and a breach of 0.7091 (low Aug.20) would aim for 0.7026 (low Aug.18) and finally 0.6951 (low Aug.5). On the other hand, the next resistance aligns at 0.7284 (high Sep.21) followed by 0.7362 (high Sep.16) and then 0.7376 (high Sep.3).

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