EUR/GBP keeps highs near 0.8560 ahead of Draghi

The offered bias around the British Pound has helped EUR/GBP to clinch fresh 3-day tops in the 0.8550/60 band.

EUR/GBP attention to Draghi, BoE

The European cross is extending its rebound from last week’s multi-week troughs in the mid-0.8400s following a deep pullback in the single currency, in contrast with the persistent resilience surrounding GBP.

Later in the session, President Mario Draghi will testify before the European Parliament on the economic outlook of the region and the potential consequences following the Brexit vote, along with speeches of board members J.Dickson, P.Praet and B.Coeure.

Previously, EMU’s M3 Money Supply has expanded 4.4% on a year to October, while Private Loans rose 1.8% during

In the UK, the BoE’s Financial Stability Report is due on Wednesday followed by November’s manufacturing PMI due on Thursday.

EUR/GBP key levels

The cross is now gaining 0.84% at 0.8561 facing the immediate hurdle at 0.8632 (100-day sma) ahead of 0.8662 (20-day sma) and finally 0.8710 (high Nov.15). On the other hand, a break below 0.8456 (low Nov.23) followed by 0.8329 (low Sep.6) and then 0.8270 (200-day sma).

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