EUR/GBP pushes higher to 0.8670, daily tops

The now offered tone around the Sterling is helping EUR/GBP to return to the upper-0.8600s and reach fresh daily tops at the same time.

EUR/GBP supported near 0.8630

The European cross keeps meandering a tight range on Wednesday, so far well supported in the 0.8630 region and looking to recover recent highs above the 0.8700 handle.

In the meantime, global markets remain at the mercy of the better tone in the greenback ahead of the publication of the FOMC minutes during the evening in Europe. Market consensus keeps pointing to a dovish tone from the statement today, emphasizing the ‘wait-and-see’ stance from the Committee.

EUR/GBP key levels

The cross is now advancing 0.24% at 0.8666 and a break above 0.8727 (2016 high Aug.16) would expose 0.8778 (high Jul.31 2013) and then 0.8794 (high Mar.12 2013). On the downside, the next support is located at 0.8486 (20-day sma) followed by 0.8259 (55-day sma) and finally 0.8248 (low Jul.14).