EUR/GBP regains 0.8400 after hitting 8-month low

FXstreet.com (Córdoba) - The Sterling dragged the EUR/GBP to a fresh 8-month low during the European session, as better-than-expected UK employment data fueled expectations the BoE could hike interest rates sooner than anticipated.

EUR/GBP steadies around 0.8400

EUR/GBP bottomed out at 0.8382, last seen Jan 23, but managed to trim losses afterward and settled in a tight range above 0.8400. At time of writing, EUR/GBP is trading around 0.8405, 0.3% below its opening price.

EUR/GBP technical levels

In terms of technical levels, EUR/GBP could face immediate supports at 0.8382 (daily low) and 0.8310 (100-week SMA), while resistances are now seen at 0.8415 (intraday level) and 0.8460 (10-day SMA).