EUR/GBP steadies at multi-year lows

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EUR/GBP steadies at multi-year lows

FITITOL--> FXstreet.com (San Francisco) - The EUR/GBP cross remains weighted this Friday in North America, now consolidating in the 0.7940 zone after breaking key support at 0.7950 to touch a multi-year low of 0.7926, a level not seen since Nov. 3, 2008.

EUR pressure is seen across the board, on the back of more comments from ECB's Coeure about its role in the region’s debt crisis.

At the time of writing, the paring is quoted down 0.6% on the day and 1.8% this week to 0.7934. Immediate resistance lies in the mentioned 0.7950 area, then above at 0.7970 (30 May low). To the downside, support lies at 0.7860 (16 Oct 2008 high).