- The euro loses momentum during the American session, with its eyes on the ECB meeting.
- The pound holds gains amid limited price action.
The EUR/GBP it broke below 0.9060 and fell to 0.9044, reaching a new daily low. At time of writing, the pair is trading at 0.98055, falling for the second day in a row, but remains above Monday’s low.
The lack of Brexit headlines on Tuesday appears to be helping the pound. The euro weakened in recent hours cutting gains against the Swiss franc, and could not rally further against a weak dollar. The key event ahead of us is the meeting of the European Central Bank on Thursday.
In Europe, the worst performance is that of the Turkish lira, which fell to new all-time lows. USD / TRY is up 1.15% to record highs near 8.20.
Technical perspective
In the short term, the EUR / GBP is hitting lower lows and highs, a potential triangle pattern that if broken could lead to a sharp move. A jump above 0.9090 should clear the way to more profit, while below 0.9040, the pound could fall to test the critical support of 0.9000.
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Credits: Forex Street
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