30 Jul 2013
EUR/GBP pushing 0.8680
FXstreet.com (London) - EUR/GBP is continuing to tick up throughout the day and has reached a high of 0.8085.
EUR/GBP is continuing to move along the July support line and ascending. German CPI came in positive 1.9% vs 1.8%. Before we had the EZ Consumer Confidence (Jul) that arrived in line with expectations at -17.4 improving on -18.8 previous. We also had seen Consumer Confidence in Germany earlier on in the morning and that came in at 7.0 (August), beating expectations at 6.9. We have also started to see some easing in Sterling before the BoE later on in the week, and of course the ECB will be up on the same day.
EUR/GBP approaching key levels
We have 0.8710/14 resistances up ahead, being the recent high and the 2008-2013 resistance line. This could be a tough resistance line to breach; however, a successful series of closes above there would bring the 0.8793/0.8814 highs seen earlier in the year into focus again.
EUR/GBP is continuing to move along the July support line and ascending. German CPI came in positive 1.9% vs 1.8%. Before we had the EZ Consumer Confidence (Jul) that arrived in line with expectations at -17.4 improving on -18.8 previous. We also had seen Consumer Confidence in Germany earlier on in the morning and that came in at 7.0 (August), beating expectations at 6.9. We have also started to see some easing in Sterling before the BoE later on in the week, and of course the ECB will be up on the same day.
EUR/GBP approaching key levels
We have 0.8710/14 resistances up ahead, being the recent high and the 2008-2013 resistance line. This could be a tough resistance line to breach; however, a successful series of closes above there would bring the 0.8793/0.8814 highs seen earlier in the year into focus again.