12 Aug 2015
EUR/GBP clinches highs near 0.7120
FXStreet (Edinburgh) - The upbeat momentum around the single currency is allowing an extension of the upside in EUR/GBP to test daily tops around 0.7120.
EUR/GBP focus on UK data
The broader trends in the risk-appetite will continue to drive the price action of the cross against a backdrop of an almost empty docket in Euroland and another lower CNY fixing today.
In addition, critical releases in the UK labour market will also collaborate with the sentiment around the sterling. Market consensus expects the Claimant Count Change to have ticked higher by 1.5K during July, while the jobless rate is seen at 5.6% on the three years ended in June.
EUR/GBP key levels
At the moment the cross is advancing 0.35% at 0.7116 with the next resistance at 0.7124 (high Aug.12) followed by 0.7160 (high Jul.27) and then 0.7202 (high Jul.13). On the other hand, a breach of 0.7039 (low Aug.11) would aim for 0.7016 (low Aug.7) and finally 0.7003 (low Jul.31).
EUR/GBP focus on UK data
The broader trends in the risk-appetite will continue to drive the price action of the cross against a backdrop of an almost empty docket in Euroland and another lower CNY fixing today.
In addition, critical releases in the UK labour market will also collaborate with the sentiment around the sterling. Market consensus expects the Claimant Count Change to have ticked higher by 1.5K during July, while the jobless rate is seen at 5.6% on the three years ended in June.
EUR/GBP key levels
At the moment the cross is advancing 0.35% at 0.7116 with the next resistance at 0.7124 (high Aug.12) followed by 0.7160 (high Jul.27) and then 0.7202 (high Jul.13). On the other hand, a breach of 0.7039 (low Aug.11) would aim for 0.7016 (low Aug.7) and finally 0.7003 (low Jul.31).