EUR/GBP softer, back below 0.7800

A now better tone in the British pound has given extra downside pressure toEUR/GBP today, sinking to fresh lows in the 0.7790 area.

EUR/GBP in multi-week lows

The European cross is navigating 3-week lows in levels below the 0.7800 mark and trading closer to the 100-day sma in the 0.7770 area, which seems to be quite a decent support for the time being, in response to an abrupt bout of buying interest around the Sterling.

GBP has gained further attention after a latest poll by Ipsos MORI showed the ‘Remain’ vote at 55% vs. ‘Leave’ at 37%. Previous EU Referendum polls have shown a tighter gap and wider differences between telephone and web polls.

EUR/GBP key levels

The cross is now losing 0.47% at 0.7788 facing the next support at 0.7774 (100-day sma) followed by 0.7731 (low Apr.26) and finally 0.7508 (200-day sma). On the other hand, a breakout of 0.7874 (55-day sma) would expose 0.7947 (high May 4) and then 0.7995 (high Apr.18).