20 Aug 2015
EUR/GBP toying with 0.7100
FXStreet (Edinburgh) - EUR/GBP continues to rebound from Tuesday’s troughs near 0.7020, so far hovering over the key barrier at 0.7100.
EUR/GBP attention to UK data
The European cross has ben boosted on Wednesday, following the increasing buying interest around the single currency in the wake of the release of the FOMC minutes.
Nothing worth mentioning data wise in Euroland, while Retail Sales will take centre stage in the UK economy. Consensus expects both headline and core sales to have expanded at a monthly pace of 0.4% during July.
EUR/GBP key levels
At the moment the cross is advancing 0.07% at 0.7097 and a breakout of 0.7117 (high Aug.11) would open the door to 0.7170 (high Aug.12) and finally 0.7202 (high Jul.13). On the other hand, the initial support lines up at 0.7085 (low Aug.20) followed by 0.7026 (low Aug.19) and then 0.7016 (low Aug.7).
EUR/GBP attention to UK data
The European cross has ben boosted on Wednesday, following the increasing buying interest around the single currency in the wake of the release of the FOMC minutes.
Nothing worth mentioning data wise in Euroland, while Retail Sales will take centre stage in the UK economy. Consensus expects both headline and core sales to have expanded at a monthly pace of 0.4% during July.
EUR/GBP key levels
At the moment the cross is advancing 0.07% at 0.7097 and a breakout of 0.7117 (high Aug.11) would open the door to 0.7170 (high Aug.12) and finally 0.7202 (high Jul.13). On the other hand, the initial support lines up at 0.7085 (low Aug.20) followed by 0.7026 (low Aug.19) and then 0.7016 (low Aug.7).