EUR/GBP holds above 0.86 ahead of busy economic calendar

EUR/GBP ran out of sellers under 0.86 handle for the third straight session, ensuring the cross remains above the key psychological level ahead of the busy economic calendar.

Focus on German GDP and UK CPI

German Q3 GDP is expected to show the growth rate slowed to 0.3% quarter-on-quarter. Meanwhile, the UK CPI is expected to show the cost of living ticked higher to 1.1% in October. Later in the day, the Eurozone GDP could figure could attract market attention as well.

Amid the busy economic calendar, the action in the stock markets could influence the demand for the funding currency EUR.

EUR/GBP Technical Levels

The cross was last seen trading around 0.8610. Repeated rebound from sub-0.86 levels suggests only a break below the same on the daily closing basis would open doors for 0.8562 (Sep 22 low) and 0.85 (zero figure). On the higher side, breach of 0.8628 (100-DMA) would open doors for 0.8664 (5-DMA) and 0.87 (zero figure).