VIew of the eruption with the town of Grindavik in the upper right visible (image: Icelandic Met Office / Coast Guard)
The latest information gives reason to hope that Grindavik might not be hit by the eruption. Most activity of the fissure seems to be in the northern section and lava flows are currently not moving towards the town.
Chances are that the eruption weakens in the coming days and focuses on activity at lower intensity on one of few vents in the northern sector only.
Attached is the latest map showing the location of the eruptive fissure published by the Icelandic Met Office who monitor the event.
Location map of the eruption (image: IMO)