The EUR/GBP currency pair is experiencing increasing bearish pressure, trading near monthly lows. Following a sharp reversal triggered by the UK Budget announcement on Wednesday, the Euro is struggling to gain traction above the 0.8760 resistance level. Earlier in the day, the pair found some support at 0.8745, but momentum seems to be shifting towards a potential decline.
Market analysts suggest that the exchange rate may extend its downward movement, targeting the key level of 0.8720. This shift indicates a growing sentiment among traders that the Euro could weaken further against the Pound, influenced by recent economic developments in the UK. As the trading week progresses, participants will be closely monitoring any new data or catalysts that could impact this currency pair's trajectory.
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Data Source: FX Killer Analysis Team Updated: 2025-11-27 08:51
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.