EURGBP Finds Support and Looks to Mount Another Rally Analysis & Tools S&R Levels Cryptocurrencies Shares Indices Forex Commodities Charts Eco Cal Cryptocurrency Industry News Learn to Trade Open trading account News Cryptocurrencies Shares Forex Indices Commodities S&R Levels Education Free Beginner Articles Trading Summit Trading Q&A Learn to Trade Charts Calendar About About Us InvestingCube Authors Advertise Privacy Policy Newsletter Open trading account EURGBP Finds Support and Looks to Mount Another Rally Kevin George· Forex · Sep 04, 2020, 08:46 BST The EUR to GBP exchange rate has bounced at key support on the week and the pair is now looking to make a move for the 0.9000 level again. In my last article on the rate, EURGBP Lower as UK House Prices Hit Record High, I said: “…the market looks like a test of 0.8870 should happen this week.” That test happened but the Euro has held support well and will look to the next catalyst. This morning sees some construction data from the U.K. and a speech from the Bank of England’s Saunders, but I do not expect these to be market-moving. The talks on Brexit have stalled once more with the EU’s Chief Negotiator stating that a deal between the two sides, “seems unlikely,” by the end of the transition period on December 31st. The U.K. has been adamant that they will not extend the deadline again. If no deal is agreed, the trading relationship between London and Brussels would revert to World Trade Organization rules – which would involve various tariffs. The next round of talks is scheduled for next week, September 7th, and this will bring headline risk for the EUR to GBP exchange rate. The following day will be the first estimate of third quarter GDP for the Eurozone, so we can look for the pair to trade within the current range ahead of those events. EURGBP Technical Outlook The EURGBP is playing out the range between 0.8950 and 0.8870. The latter has now seen a bounce and if EURGBP can hold this in the days ahead then a rally back to test 0.9000 is likely. 0.8870 is the obvious stop loss level for long positions. Don’t miss a beat! Follow us on Telegram and Twitter. EURGBP Daily Chart More content Download our latest quarterly market outlook for our longer-term trade ideas. Follow Kevin on Twitter. Do you enjoy reading our updates? Become a member today and access all restricted content. It is free to join. Tags EURGBP ShareTweetShareShare Kevin George Kevin George has over twelve years' experience in financial markets trading, which included stints in London and New York, trading equities and currencies. He has also traded in commodities, equities, futures and options. He has extensive technical-experience and combines this with a fundamental overview. He has published for SeekingAlpha, where he runs his own subscriber newsletter and graduated with an MSc in finance in 2017. 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