EUR/GBP clinches highs around 0.7970

The persistent offered tone around the Sterling is prompting EUR/GBP to climb further up today, now flirting with session tops in the 0.7965/70 band.

EUR/GBP attention to CPI figures

Latest poll results on the EU-UK Referendum keep weighing on the demand for GBP, as the ‘Leave’ vote seems to be consolidating the lead.

On the other hand, a steady march of the single currency has been also collaborating with the recent rebound in the cross from last week’s troughs in the mid-0.7700s.

Next on tap will be the Spanish and Italian May inflation figures followed by EMU’s Industrial Production, while UK’s CPI is expected to have gained 0.3% inter-month.

EUR/GBP key levels

The cross is now gaining 0.56% at 0.7967 and a break above 0.7986 (high Jun.13) would expose 0.8119 (2016 high Apr.7). On the flip side, the next support lines up at 0.7852 (55-day sma) followed by 0.7822 (100-day sma) and finally 0.7757 (low Jun.7).