EUR/GBP falls to its lowest level since May last year
The push lower in EUR/GBP is playing into pound strength and euro weakness on the session, with the pair now falling to its weakest levels since May last year.
More importantly, the push lower is threatening key support at 0.8866-67 - a level which has held off any downside pressure in the pair stretching all the way back to June last year.
A break below that leaves little in the way of the pair revisiting the April to May lows closer to 0.8670-00 next and that isn't quite a good sign for the euro.
In turn, we are seeing GBP/USD accelerate gains to test resistance near 1.3700 while EUR/USD has erased all of its earlier advance in a drop from 1.2158 to 1.2126:
