EUR/GBP: greenback leading the way down to test 0.8580

Currently, EUR/GBP is trading at 0.8580, down -0.13% on the day, having posted a daily high at 0.8654 and low at 0.8565.

EUR/GBP is dropping back in a drift after the sell-off from 0.8651 and trades around the 0.8580 dual mark for support and resistance. The biggest news was that of more uncertainty around the EU and Brexit after the Supreme Court outcome that essentially has increased the risks around sterling and the euro in respect to in what form the UK parliament will tigger Article 50. 

FTSE 100, IBEX 35, CAC 40, DAX all green; PM May 0-1 UK's Supreme Court

The key point, however, that is somewhat baffling, is why the cross is lower as uncertainty around Brexit has definitely been a previous negative for the pound. Indeed the pound was lower vrs the greenback and indeed so too the euro, so this is more about repositioning in the greenback and profit taking stops on the way down in the cross for the session. 

EUR/GBP levels

Spot is presently trading at 0.8581, and next resistance can be seen at 0.8592 (Yesterday's Low), 0.8592 (Daily Open), 0.8592 (Weekly Low), 0.8606 (Hourly 20 EMA) and 0.8616 (Daily Classic PP). Next support to the downside can be found at 0.8567 (Daily Classic S1), 0.8565 (Daily Low), 0.8558 (Weekly Classic S1), 0.8541 (Daily Classic S2) and 0.8503 (Monthly Low).