12 Aug 2015
EUR/GBP climbs further, 0.7180 on sight
FXStreet (Edinburgh) - Softer results from the UK labour market have weighed on the sterling, helping EUR/GBP clinch fresh tops near 0.7180 on Wednesday.
EUR/GBP in 4-week peaks
The European cross has managed to test multi-week tops in the upper-0.7100s after the UK Claimant Count Change decreased by 4.9K during July and the jobless rate stayed put at 5.6% on the three months ended in June. However, Average Eearning +Bonus disappointed investors, rising 2.4% vs. 2.8% forecasted and down from 3.2% previous.
Next of relevance in the cross will be EMU’s Industrial Production during June, ahead of tomorrow’s more relevant German CPI figures.
EUR/GBP key levels
At the moment the cross is advancing 0.83% at 0.7150 with the next resistance at 0.7172 (high Aug.12) followed by 0.7202 (high Jul.13) and then 0.7223 (high Jul.10). 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 in 4-week peaks
The European cross has managed to test multi-week tops in the upper-0.7100s after the UK Claimant Count Change decreased by 4.9K during July and the jobless rate stayed put at 5.6% on the three months ended in June. However, Average Eearning +Bonus disappointed investors, rising 2.4% vs. 2.8% forecasted and down from 3.2% previous.
Next of relevance in the cross will be EMU’s Industrial Production during June, ahead of tomorrow’s more relevant German CPI figures.
EUR/GBP key levels
At the moment the cross is advancing 0.83% at 0.7150 with the next resistance at 0.7172 (high Aug.12) followed by 0.7202 (high Jul.13) and then 0.7223 (high Jul.10). 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).