EUR/GBP bears eye a break of 0.8330 to target weekly lows, 0.8280 By ross_burland EURGBP Technical Analysis Brexit GBPUSD Currencies
Covid risks abate which is helping to keep GBP elevated.is on the verge of a downside extension as it takes on critical support in the lows of the day near 0.8335. The pair has fallen some 0.4% from a high of 0.8395 on the day so far. The pound, often regarded as a risk currency, has benefited from a risk-on environment at the start of the week as full markets return.
IHS Markit and the Chartered Institute of Procurement and Supply showed growth in UK factory output was limited last month. According to the survey of 650 manufacturers, a key measure of for the Moreover, the City AM reported today that ''many British businesses may “give up importing” as a result of new strict rules that came into force on Saturday, on 1 January, a former senior civil servant in charge of Brexit planning has warned.''
Additionally, the row regarding fishing rights continues. This will now be likely be referred to a court, where a negative ruling could result in retaliatory measures such as tariffs. This will not go down well in the land of GBP forex as uncertainties will remain.
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