EUR/GBP New York Price Analysis: Euro dropping towards 2019 lows vs. pound

• EUR/GBP is weakening to fresh 2020 lows en route towards the 2019 lows. 
• The level to beat for bears is the 0.8300 figure. 

EUR/GBP daily chart

The EUR/GBP exchange rate is trading below its main daily simple moving averages (SMAs) suggesting a bearish momentum in the long term. As the market is falling the bears are likely heading towards the 0.8300 figure which was near the lowest point in 2019. A breach below this level would likely extend losses towards the 0.8200 and 0.8100 figures. Resistance is seen near the 0.8400, 0.8500 and 0.8600 levels.

Additional key levels