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EUR/GBP downside open below GBP 200 DMA

FXStreet (Guatemala) - EUR/GBP is currently trading at 0.7244with a high of 0.7257 and a low of 0.7196.

EUR/GBP has started to rebound from the lows and downside of the supply from above the 0.7320. The 50 SMA is acting as immediate resistance while, otherwise, the pound is taking a battering as the week progresses with pressures on the 200 DMA as markets discount the premium of a near term rate hike from the BoE out of the currency.

EUR/GBP levels to the downside

Technically, should the GBP/USD 200 DMA give way, the cross is going to find it hard to sustain a recovery and Below 0.7220 support would open up the potential for the 55 day ma at 0.7167 and the 0.7150 pivot line.

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