EUR/GBP: meeting resistance on a circa 100 pip Brexit fears opening rally

EUR/GBP is up almost a cent on the back of a broad based sell-off in Sterling.

Sterling was walloped on the open and selling continued right up to time of writing on the back of opinion polls and various media outlets signifying an increase in the possibility of a Brexit on 23r June EU referendum. 

Brexit campaign gains momentum, Pound under pressure

Risk events ahead come with Fed's Yellen on on an otherwise relatively quiet docket for the EZ. Revision of EZ GDP is however  on the cards.

EUR/GBP levels

EUR/GBP displayed a strong rebound from just ahead of key supports on the 30th May and again on the 31st May from the region of where the 50% retracement of the move from November 2015 at 0.7550 meets the 200 day ma at 0.7536. 0.7946 is next key target at 3rd May highs. The head and shoulder's head is located at 0.8116. To the downside, a break of the neckline again at aforementioned lows and the 200 dma point towards declines of 0.7380 on the wide as the 5th Jan highs.