EUR/GBP remains below 0.7700 after Draghi and Yellen

The euro is among the worst performers across the board in the currency market while the pound shows mixed results two days before the European Union referendum in the United Kingdom.

EUR/GBP  currently trades at 0.7675, down 0.26% for the day so far. After the release of the introductory statement of Mario Draghi at the European Parliament, the pair dropped to 0.7653 and then attempted to recover but it remained under 0.7685. During the last hours, it has remained steady, unaffected by Yellen’s testimony.

EUR/GBP levels to watch

Today is the fifth daily decline in a row for the pair that continues to correct lower after approaching 0.8000 last week. Some polls showed an improvement of the “remain” position ahead of Thursday’s referendum and gave a boost to the pound.

EUR/GBP is correcting lower and today the decline was capped by the strong 0.7650 area (March low); below here the next support levels to watch might be located at 0.7615 ( Feb 2 & 3 high) and 0.7560 (May lows). On the opposite direction, resistance could be seen at 0.7700 (psychological and 20-hour moving average), 0.7745 (daily high) and 0.7775 (June 2 high).