30 Jul 2013
EUR/GBP drifting higher
FXstreet.com (London) - EUR/GBP has been drifting higher since May and is continuing to move along the July support line.
There are a number of data releases for the EZ today. First up we have seen Consumer Confidence in Germany came in at 7.0 (August), beating expectations at 6.9. German CPI is the main attraction on the calendar while Sterling continues to be supported by recent signals of recover in the UK, although we have started to see some easing there before BoE later in the week, and of course ECB.
EUR/GBP eyes tough resistance
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.
There are a number of data releases for the EZ today. First up we have seen Consumer Confidence in Germany came in at 7.0 (August), beating expectations at 6.9. German CPI is the main attraction on the calendar while Sterling continues to be supported by recent signals of recover in the UK, although we have started to see some easing there before BoE later in the week, and of course ECB.
EUR/GBP eyes tough resistance
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.