EUR/GBP trims losses, closer to 0.8300

After briefly testing the 0.8200 key support on Wednesday, EUR/GBP has regained traction and is now approaching the 0.8300 handle, albeit still with marginal losses.

EUR/GBP focus on data, Brexit, Carney

The selling bias in the riskier assets continue to weigh on the shared currency and the Sterling today, helping the European cross to clinch the upper 0.8200s and allow a potential test of 0.8300 the figure.

Later in the session, the speech by Governor M.Carney will be under the microscope, as market participants will remain vigilant on any clues regarding the next steps from the ‘Old Lady’ following the ‘Brexit’ vote. Still in the UK, Conservatives Party candidates B.Johnson and T.May are expected to announce their bids for leadership today.

On this side of the Channel, ECB’s minutes are expected as well as German labour market results and flash inflation figures in Spain, France and Italy.

EUR/GBP key levels

The cross is now losing 0.10% at 0.8278 and a breakdown of 0.8163 (low Jun.27) would open the door to 0.7996 (high Jun.16) and then 0.7931 (20-day sma). On the flip side, the next up barrier lines up at 0.8383 (high Jun.27) ahead of 0.8401 (monthly high Mar.18 2014) and then 0.8467 (monthly high Dec.17 2013).