GBP/EUR: Brexit Uncertainty Keeps Pound Demand Low vs. Euro
  • EUR/GBP sold off Thursday snapping a two day winning streak.
  •  Brexit deal optimism supported the pound pressurising the pair..
  • A pullback in the Euro added to the softer tone to the pair.

EUR/GBP slipped lower in the European session, refreshing daily lows of 0.9030..

The EUR/GBP is extending losses, snapping two consecutive winning days. The pair trades above the 0.9000 psychological mark.

GBP was back in demand on renewed optimism for a last-minute Brexit trade deal. GBP strength was a key factor pressuring EUR/GBP. Ireland’s Foreign Minister Simon Coveney believed a deal was imminent. A mild  pullback in the Euro added to the negative bias surrounding the EUR/GBP. Investors could wait for more Brexit news before placing any aggressive GBP bullish bets.

Michel Barnier  said that Brexit talks have reached a make-or-break moment.there could be worth to wait a stronger move southwards before taking any aggressive bearish position..