EUR/GBP sticks to gains above 0.8700

EUR/GBP is extending its erratic performance this week, now clinging to its daily gains above the 0.8700 handle.

EUR/GBP upside failed ahead of 0.8800

The European cross remains on its way to close the first negative week after two consecutive advances amidst a firm note from both the Sterling and the single currency.

However, EUR/GBP manages well to keep the trade in the upper end of the recent range despite a breakout of 0.8800 sill remains elusive.

The broad-based selling pressure around the greenback added to the better tone in GBP post-BoE meeting, while at the same time fuelled the upside momentum in EUR.

Nothing noteworthy on the data front in the euro area or the UK, while markets’ attention should shift to the upcoming G-20 meeting starting later today.

EUR/GBP key levels

The cross is now advancing 0.09% at 0.8719 and a surpass of 0.8788 (high Mar.14) would expose 0.8860 (2017 high Jan.16) and then 0.8902 (high Nov.9). On the other hand, the next support is located at 0.8665 (low Mar.16) ahead of 0.8611 (20-day sma) and finally 0.8593 (55-day sma).